South Dakota Investment Council lifted its stake in shares of Graco Inc. (NYSE:GGG – Free Report) by 158.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 18,440 shares of the industrial products company’s stock after buying an additional 11,300 shares during the quarter. South Dakota Investment Council’s holdings in Graco were worth $1,561,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its holdings in Graco by 0.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock valued at $1,745,000 after acquiring an additional 109 shares during the period. Stonebridge Capital Advisors LLC lifted its position in Graco by 0.3% during the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after acquiring an additional 119 shares during the last quarter. ICW Investment Advisors LLC boosted its holdings in shares of Graco by 5.2% during the second quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock worth $234,000 after acquiring an additional 135 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Graco by 5.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 139 shares during the period. Finally, Root Financial Partners LLC grew its position in shares of Graco by 43.2% in the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.
Graco Trading Down 0.6%
NYSE GGG opened at $79.48 on Friday. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.48 and a beta of 0.93. The company has a 50 day moving average of $75.58 and a 200-day moving average of $82.52. Graco Inc. has a 1-year low of $72.51 and a 1-year high of $95.69.
Graco Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, July 20th. Graco’s dividend payout ratio is presently 37.11%.
Analysts Set New Price Targets
GGG has been the topic of a number of recent research reports. Robert W. Baird set a $94.00 target price on Graco in a research note on Friday, July 24th. DA Davidson restated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Wolfe Research lowered Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Weiss Ratings cut Graco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada lifted their target price on Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Graco has an average rating of “Hold” and an average price target of $95.00.
View Our Latest Research Report on GGG
About Graco
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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