Madison Asset Management LLC reduced its holdings in shares of Graco Inc. (NYSE:GGG – Free Report) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 473,849 shares of the industrial products company’s stock after selling 25,392 shares during the quarter. Madison Asset Management LLC’s holdings in Graco were worth $38,841,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Graco in the 3rd quarter valued at about $29,000. CX Institutional grew its stake in Graco by 316.7% during the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 361 shares during the period. Assetmark Inc. grew its stake in Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 139 shares during the period. Field & Main Bank bought a new stake in Graco in the fourth quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. increased its holdings in Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares in the last quarter. 93.88% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on GGG. KeyCorp restated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Weiss Ratings lowered shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. DA Davidson reiterated a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Jefferies Financial Group increased their target price on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Graco in a report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $94.25.
Graco Price Performance
GGG opened at $77.13 on Wednesday. Graco Inc. has a fifty-two week low of $76.88 and a fifty-two week high of $95.69. The firm has a market capitalization of $12.80 billion, a PE ratio of 25.12, a P/E/G ratio of 2.47 and a beta of 0.96. The company’s 50-day moving average is $85.06 and its 200 day moving average is $85.28.
Graco (NYSE:GGG – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The company had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. Graco’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. As a group, analysts expect that Graco Inc. will post 3.13 EPS for the current year.
Graco Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Monday, April 13th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Monday, April 13th. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. Graco’s payout ratio is presently 38.44%.
Insider Transactions at Graco
In related news, Director Andrea Helen Simon purchased 1,240 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the acquisition, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.18% of the company’s stock.
Graco Company Profile
Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.
The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.
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