Swedbank AB lifted its holdings in Graco Inc. (NYSE:GGG – Free Report) by 90.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,819 shares of the industrial products company’s stock after purchasing an additional 10,831 shares during the period. Swedbank AB’s holdings in Graco were worth $1,932,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Kepler Cheuvreux Suisse SA bought a new stake in shares of Graco during the 1st quarter worth about $482,000. Praxis Investment Management Inc. bought a new position in shares of Graco in the 1st quarter valued at approximately $362,000. V Square Quantitative Management LLC raised its stake in shares of Graco by 18.1% in the 1st quarter. V Square Quantitative Management LLC now owns 3,869 shares of the industrial products company’s stock valued at $328,000 after acquiring an additional 593 shares in the last quarter. CWS Financial Advisors LLC lifted its holdings in Graco by 2.8% in the 1st quarter. CWS Financial Advisors LLC now owns 7,022 shares of the industrial products company’s stock worth $594,000 after purchasing an additional 193 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in Graco by 18.2% during the first quarter. QRG Capital Management Inc. now owns 20,403 shares of the industrial products company’s stock worth $1,727,000 after purchasing an additional 3,143 shares during the period. 93.88% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Graco
In other news, Director Andrea Helen Simon acquired 1,240 shares of the stock in a transaction dated Monday, April 27th. The shares were acquired at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the transaction, the director owned 1,240 shares in the company, valued at approximately $99,857.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.18% of the company’s stock.
Graco Stock Performance
Graco (NYSE:GGG – Get Free Report) last released its earnings results 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 firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same period last year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts predict that Graco Inc. will post 3.1 earnings per share for the current year.
Graco Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a $0.295 dividend. The ex-dividend date 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 (DPR) is currently 38.44%.
Wall Street Analysts Forecast Growth
GGG has been the topic of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Graco in a report on Friday, April 24th. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Graco in a report on Monday, April 27th. Weiss Ratings downgraded shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Robert W. Baird cut their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $94.25.
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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