Accredited Investors Inc. raised its position in Graco Inc. (NYSE:GGG) by 195.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,401 shares of the industrial products company’s stock after acquiring an additional 16,818 shares during the period. Accredited Investors Inc.’s holdings in Graco were worth $1,149,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Cardinal Capital Management lifted its stake in shares of Graco by 6.8% during the third quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock worth $942,000 after buying an additional 488 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Graco by 4.9% during the third quarter. Public Employees Retirement System of Ohio now owns 108,820 shares of the industrial products company’s stock worth $13,460,000 after buying an additional 5,072 shares during the period. Prudential Financial Inc. lifted its stake in shares of Graco by 6.3% during the third quarter. Prudential Financial Inc. now owns 348,478 shares of the industrial products company’s stock worth $43,103,000 after buying an additional 20,740 shares during the period. Schroder Investment Management Group acquired a new stake in shares of Graco during the second quarter worth $1,458,000. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of Graco by 24.3% during the third quarter. Conestoga Capital Advisors LLC now owns 26,179 shares of the industrial products company’s stock worth $3,238,000 after buying an additional 5,126 shares during the period. Institutional investors own 29.68% of the company’s stock.
GGG has been the subject of several recent research reports. Royal Bank of Canada reissued a “hold” rating and set a $49.00 target price on shares of Graco in a report on Thursday, January 4th. Oppenheimer reissued a “hold” rating on shares of Graco in a report on Thursday, December 28th. SunTrust Banks reissued a “hold” rating and set a $42.67 target price on shares of Graco in a report on Friday, October 27th. Robert W. Baird reissued a “hold” rating and set a $45.00 target price on shares of Graco in a report on Friday, October 27th. Finally, FBR & Co set a $46.67 target price on shares of Graco and gave the stock a “hold” rating in a report on Thursday, October 26th. Thirteen investment analysts have rated the stock with a hold rating, Graco presently has an average rating of “Hold” and an average price target of $41.67.
Graco Inc. (NYSE:GGG) traded down $0.32 on Wednesday, reaching $46.60. 636,700 shares of the company’s stock were exchanged, compared to its average volume of 707,590. Graco Inc. has a one year low of $28.39 and a one year high of $47.49. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7,850.00, a PE ratio of 75.16, a price-to-earnings-growth ratio of 2.84 and a beta of 1.24.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Graco had a net margin of 7.72% and a return on equity of 42.05%. The company had revenue of $379.81 million during the quarter, compared to analysts’ expectations of $356.30 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. analysts predict that Graco Inc. will post 1.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Monday, January 22nd will be issued a $0.3975 dividend. This is a boost from Graco’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, January 19th. This represents a $1.59 dividend on an annualized basis and a yield of 3.41%. Graco’s payout ratio is presently 77.42%.
In other news, VP Mark W. Sheahan sold 30,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $131.31, for a total transaction of $3,939,300.00. Following the completion of the sale, the vice president now owns 49,538 shares of the company’s stock, valued at $6,504,834.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Charles L. Rescorla sold 47,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $129.93, for a total transaction of $6,106,710.00. Following the sale, the vice president now directly owns 108,802 shares of the company’s stock, valued at approximately $14,136,643.86. The disclosure for this sale can be found here. Insiders sold 734,752 shares of company stock valued at $18,245,690 in the last ninety days. 5.70% of the stock is owned by corporate insiders.
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Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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