Van ECK Associates Corp Boosts Stake in Graco Inc. (NYSE:GGG)

Van ECK Associates Corp raised its holdings in Graco Inc. (NYSE:GGGGet Rating) by 9.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,769 shares of the industrial products company’s stock after purchasing an additional 519 shares during the quarter. Van ECK Associates Corp’s holdings in Graco were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GGG. Champlain Investment Partners LLC raised its position in Graco by 33.8% in the second quarter. Champlain Investment Partners LLC now owns 2,718,470 shares of the industrial products company’s stock valued at $161,504,000 after purchasing an additional 687,000 shares during the period. WCM Investment Management LLC grew its stake in shares of Graco by 11.2% in the third quarter. WCM Investment Management LLC now owns 5,966,080 shares of the industrial products company’s stock valued at $359,516,000 after buying an additional 598,982 shares in the last quarter. Nuance Investments LLC grew its stake in shares of Graco by 213.4% in the second quarter. Nuance Investments LLC now owns 679,976 shares of the industrial products company’s stock valued at $40,397,000 after buying an additional 463,015 shares in the last quarter. State Street Corp grew its stake in shares of Graco by 6.7% in the second quarter. State Street Corp now owns 6,402,263 shares of the industrial products company’s stock valued at $380,358,000 after buying an additional 399,541 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Graco in the first quarter valued at $24,447,000. Hedge funds and other institutional investors own 85.85% of the company’s stock.

Insiders Place Their Bets

In other Graco news, VP Angela F. Wordell sold 2,700 shares of Graco stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $70.37, for a total transaction of $189,999.00. Following the completion of the sale, the vice president now directly owns 12,372 shares of the company’s stock, valued at approximately $870,617.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Graco news, insider Caroline M. Chambers sold 19,041 shares of Graco stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $69.95, for a total transaction of $1,331,917.95. Following the completion of the sale, the insider now directly owns 48,599 shares of the company’s stock, valued at approximately $3,399,500.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Angela F. Wordell sold 2,700 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $70.37, for a total value of $189,999.00. Following the completion of the sale, the vice president now directly owns 12,372 shares of the company’s stock, valued at $870,617.64. The disclosure for this sale can be found here. 3.52% of the stock is owned by company insiders.

Graco Trading Down 1.3 %

GGG opened at $69.46 on Wednesday. Graco Inc. has a 12 month low of $56.48 and a 12 month high of $75.45. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 3.21 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.99 and a quick ratio of 1.91. The business has a fifty day moving average price of $68.62 and a 200 day moving average price of $65.76.

Graco (NYSE:GGGGet Rating) last released its earnings results on Wednesday, October 26th. The industrial products company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Graco had a return on equity of 25.74% and a net margin of 21.37%. The firm had revenue of $545.64 million during the quarter, compared to analysts’ expectations of $523.45 million. Sell-side analysts expect that Graco Inc. will post 2.59 earnings per share for the current fiscal year.

Graco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Wednesday, January 18th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.35%. This is an increase from Graco’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, January 17th. Graco’s payout ratio is 32.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GGG. Royal Bank of Canada lifted their price objective on Graco from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, November 14th. StockNews.com cut Graco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.50.

Graco Profile

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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 worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

Further Reading

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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