Public Employees Retirement System of Ohio Increases Stake in Graco Inc. $GGG

Public Employees Retirement System of Ohio increased its stake in Graco Inc. (NYSE:GGGFree Report) by 105.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,134 shares of the industrial products company’s stock after buying an additional 64,138 shares during the period. Public Employees Retirement System of Ohio owned 0.08% of Graco worth $10,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Aristides Capital LLC grew its holdings in shares of Graco by 13.4% during the 1st quarter. Aristides Capital LLC now owns 5,351 shares of the industrial products company’s stock worth $453,000 after acquiring an additional 631 shares during the period. Compound Planning Inc. boosted its position in shares of Graco by 52.6% during the first quarter. Compound Planning Inc. now owns 4,188 shares of the industrial products company’s stock valued at $355,000 after purchasing an additional 1,444 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Graco by 80.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 954,347 shares of the industrial products company’s stock valued at $80,785,000 after purchasing an additional 426,001 shares in the last quarter. Caxton Associates LLP grew its stake in Graco by 9.4% in the first quarter. Caxton Associates LLP now owns 11,055 shares of the industrial products company’s stock worth $936,000 after purchasing an additional 952 shares during the period. Finally, Bank of Nova Scotia grew its stake in Graco by 376.6% in the first quarter. Bank of Nova Scotia now owns 57,953 shares of the industrial products company’s stock worth $4,906,000 after purchasing an additional 45,793 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Graco Trading Down 0.1%

Shares of NYSE:GGG opened at $79.43 on Monday. The stock has a fifty day simple moving average of $75.07 and a two-hundred day simple moving average of $82.65. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 2.56 and a beta of 0.93. Graco Inc. has a 12-month low of $72.51 and a 12-month high of $95.69.

Graco (NYSE:GGGGet Free Report) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The business had revenue of $590.55 million for the quarter, compared to the consensus estimate of $608.06 million. During the same period in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Graco Inc. will post 3.1 EPS for the current year.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a $0.295 dividend. The ex-dividend date is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.5%. Graco’s payout ratio is presently 37.11%.

Analyst Ratings Changes

Several equities analysts have commented on GGG shares. Royal Bank Of Canada raised their price objective on Graco from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday. Robert W. Baird set a $94.00 target price on shares of Graco in a research report on Friday. DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings cut shares of Graco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.00.

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Graco Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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