Graco Inc. $GGG Holdings Boosted by Andra AP fonden

Andra AP fonden boosted its holdings in shares of Graco Inc. (NYSE:GGG) by 109.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,100 shares of the industrial products company’s stock after buying an additional 83,100 shares during the period. Andra AP fonden owned approximately 0.10% of Graco worth $13,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. DNB Asset Management AS grew its holdings in shares of Graco by 5.2% during the 3rd quarter. DNB Asset Management AS now owns 49,614 shares of the industrial products company’s stock valued at $4,215,000 after acquiring an additional 2,470 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Graco during the third quarter valued at $509,000. Compound Planning Inc. grew its stake in Graco by 12.6% in the third quarter. Compound Planning Inc. now owns 2,675 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 300 shares in the last quarter. Clearstead Advisors LLC raised its stake in shares of Graco by 87.8% during the 3rd quarter. Clearstead Advisors LLC now owns 896 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 419 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Graco by 3.0% during the 3rd quarter. Citigroup Inc. now owns 86,609 shares of the industrial products company’s stock worth $7,358,000 after purchasing an additional 2,563 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

GGG opened at $93.81 on Friday. The firm has a market cap of $15.51 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.92 and a beta of 1.08. The firm’s 50-day simple moving average is $88.30 and its 200-day simple moving average is $85.08. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $95.69.

Graco (NYSE:GGG) last released its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The firm had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. During the same period last year, the firm posted $0.64 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.18 annualized dividend and a yield of 1.3%. Graco’s dividend payout ratio is currently 38.19%.

Graco announced that its Board of Directors has approved a stock repurchase program on Friday, December 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. DA Davidson reiterated a “neutral” rating and issued a $85.00 target price on shares of Graco in a research note on Monday, February 2nd. Weiss Ratings upgraded shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Royal Bank Of Canada raised their target price on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Jefferies Financial Group boosted their price target on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Robert W. Baird set a $96.00 price target on Graco in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.50.

Insider Transactions at Graco

In other news, EVP Kathryn L. Schoenrock sold 2,223 shares of Graco stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total value of $195,757.38. Following the completion of the sale, the executive vice president directly owned 7,846 shares of the company’s stock, valued at approximately $690,918.76. This trade represents a 22.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy R. White sold 1,469 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the transaction, the insider directly owned 51,430 shares in the company, valued at $4,664,701. This trade represents a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,394 shares of company stock worth $1,739,326 in the last quarter. 2.19% of the stock is owned by corporate insiders.

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.