Raiffeisen Bank International AG Acquires 111,928 Shares of Graco Inc. $GGG

Raiffeisen Bank International AG boosted its holdings in Graco Inc. (NYSE:GGG – Free Report) by 1,270.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,737 shares of the industrial products company’s stock after purchasing an additional 111,928 shares during the period. Raiffeisen Bank International AG’s holdings in Graco were worth $9,906,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. increased its position in shares of Graco by 42.6% in the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 139 shares during the period. Field & Main Bank purchased a new position in shares of Graco in the fourth quarter valued at about $41,000. Geneos Wealth Management Inc. increased its position in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 452 shares during the period. Matrix Trust Co increased its position in shares of Graco by 43.0% in the fourth quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 167 shares during the period. Finally, CENTRAL TRUST Co increased its position in shares of Graco by 40.3% in the third quarter. CENTRAL TRUST Co now owns 735 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 211 shares during the period. 93.88% of the stock is owned by institutional investors.

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Insider Activity

In related news, Director Andrea Helen Simon purchased 1,240 shares of Graco stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the transaction, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.18% of the stock is owned by corporate insiders.

Graco Stock Performance

Shares of GGG stock opened at $74.22 on Friday. Graco Inc. has a fifty-two week low of $73.26 and a fifty-two week high of $95.69. The business’s 50 day moving average price is $79.79 and its 200-day moving average price is $84.35. The firm has a market cap of $12.32 billion, a P/E ratio of 24.18, a P/E/G ratio of 2.37 and a beta of 0.93.

Graco (NYSE:GGG – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The company had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. During the same quarter in the prior year, the firm earned $0.70 EPS. Graco’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Graco Inc. will post 3.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings lowered Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research report on Friday, April 24th. DA Davidson reiterated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Finally, Robert W. Baird cut their price objective on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Three investment 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 an average price target of $94.25.

View Our Latest Analysis on GGG

Graco 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.

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