Graco Inc. (NYSE:GGG) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC raised its position in shares of Graco Inc. (NYSE:GGG) by 32.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,532 shares of the industrial products company’s stock after acquiring an additional 1,118 shares during the period. Townsquare Capital LLC’s holdings in Graco were worth $382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Graco during the 4th quarter worth about $177,434,000. Massachusetts Financial Services Co. MA lifted its position in Graco by 26,738.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,841,916 shares of the industrial products company’s stock valued at $155,255,000 after buying an additional 1,835,053 shares in the last quarter. Principal Financial Group Inc. grew its stake in Graco by 244.4% during the third quarter. Principal Financial Group Inc. now owns 1,990,742 shares of the industrial products company’s stock worth $174,210,000 after buying an additional 1,412,704 shares during the period. Canoe Financial LP increased its position in shares of Graco by 359.2% in the fourth quarter. Canoe Financial LP now owns 640,474 shares of the industrial products company’s stock worth $53,986,000 after acquiring an additional 501,003 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new position in shares of Graco in the 4th quarter valued at $38,199,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

Shares of GGG stock opened at $78.59 on Monday. The company’s fifty day moving average price is $83.03 and its two-hundred day moving average price is $84.88. The firm has a market capitalization of $13.21 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.85 and a beta of 0.92. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86.

Graco (NYSE:GGG) last issued its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. On average, sell-side analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a $0.275 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.40%. Graco’s dividend payout ratio (DPR) is presently 39.01%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GGG shares. Royal Bank of Canada upped their price target on shares of Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. DA Davidson set a $85.00 target price on Graco in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $93.00.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.