State of Wyoming bought a new position in shares of Graco Inc. (NYSE:GGG – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 14,481 shares of the industrial products company’s stock, valued at approximately $1,095,000.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Graco in the 4th quarter valued at $161,949,000. Bank of Montreal Can grew its holdings in Graco by 1,636.9% in the 4th quarter. Bank of Montreal Can now owns 1,011,196 shares of the industrial products company’s stock valued at $82,888,000 after buying an additional 952,977 shares in the last quarter. Caisse de depot et placement du Quebec increased its position in Graco by 236.4% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock worth $108,711,000 after buying an additional 899,174 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Graco by 20,706.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock worth $45,605,000 after buying an additional 553,688 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings 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 worth $80,785,000 after buying an additional 426,001 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.
Graco Price Performance
Shares of NYSE GGG opened at $81.90 on Friday. The business has a fifty day moving average price of $77.08 and a two-hundred day moving average price of $82.22. The stock has a market capitalization of $13.26 billion, a PE ratio of 25.75, a P/E/G ratio of 2.52 and a beta of 0.92. Graco Inc. has a fifty-two week low of $72.51 and a fifty-two week high of $95.69.
Graco Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.4%. Graco’s dividend payout ratio is currently 37.11%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird set a $94.00 target price on shares of Graco in a research report on Friday, July 24th. Weiss Ratings raised shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. DA Davidson reissued a “neutral” rating and issued a $85.00 price objective on shares of Graco in a report on Monday, July 27th. Finally, Royal Bank Of Canada increased their target price on shares of Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Two 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 a consensus rating of “Hold” and an average price target of $95.00.
Check Out Our Latest Research Report on Graco
Graco 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.
See Also
- Five stocks we like better than Graco
- Is Best Buy the AI Winner Hiding in the Electronics Aisle?
- Applied Materials Beat Everything but Wall Street’s Expectations for Margins
- Back From Orbit, Intuitive Machines’ Share Price Enters the Buy Zone
- Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing
Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG – Free Report).
Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.
