SG Americas Securities LLC boosted its holdings in shares of Graco Inc. (NYSE:GGG – Free Report) by 263.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 449,054 shares of the industrial products company’s stock after purchasing an additional 325,399 shares during the period. SG Americas Securities LLC’s holdings in Graco were worth $38,012,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the business. Assetmark Inc. raised its holdings 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 buying an additional 139 shares during the last quarter. Field & Main Bank purchased a new position in shares of Graco during the fourth quarter worth about $41,000. Geneos Wealth Management Inc. grew its holdings in shares of Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares during the last quarter. Matrix Trust Co increased its position in Graco by 43.0% in the 4th 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, Smartleaf Asset Management LLC increased its position in Graco by 41.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 219 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the purchase, the director directly owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.18% of the stock is owned by corporate insiders.
Graco Price Performance
Graco (NYSE:GGG – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The business had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same period in the prior year, the company earned $0.70 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Research analysts anticipate that Graco Inc. will post 3.1 EPS for the current year.
Graco Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.6%. Graco’s dividend payout ratio is 38.44%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on GGG. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Graco in a research note on Friday, April 24th. Weiss Ratings downgraded Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Robert W. Baird lowered their price objective on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Finally, DA Davidson reissued a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $94.25.
Read Our Latest Stock Analysis 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.
Featured Stories
- Five stocks we like better than Graco
- Oracle’s Sell-Off Looks More Like a Mispricing Than a Warning
- Apple’s Intel Deal Arrives at the Right Time for Its Stock
- Liquid Gold: The AI Cooling Retrofit Trade
- 3 Dividend Stocks Under $30 to Anchor Your Portfolio
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.
