Confluence Investment Management LLC Has $51.07 Million Stake in Graco Inc. $GGG

Confluence Investment Management LLC reduced its position in Graco Inc. (NYSE:GGG) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 622,969 shares of the industrial products company’s stock after selling 31,050 shares during the quarter. Confluence Investment Management LLC owned approximately 0.38% of Graco worth $51,065,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GGG. Root Financial Partners LLC acquired a new position in Graco in the third quarter valued at $29,000. CX Institutional grew its holdings in Graco by 316.7% during the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 361 shares during the period. Assetmark Inc. raised its position in shares of Graco by 42.6% in the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 139 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 452 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of Graco by 116.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 514 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Trading Down 0.5%

Shares of GGG stock opened at $84.31 on Friday. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $95.69. The firm has a market capitalization of $13.98 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.66 and a beta of 1.07. The firm has a fifty day simple moving average of $89.77 and a two-hundred day simple moving average of $85.35.

Graco (NYSE:GGG) last announced its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The business had revenue of $593.16 million for the quarter, compared to analysts’ expectations of $591.99 million. Graco had a net margin of 23.33% and a return on equity of 19.49%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. On average, equities analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be paid a $0.295 dividend. The ex-dividend date is Monday, April 13th. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. Graco’s dividend payout ratio is presently 38.19%.

Graco announced that its Board of Directors has approved a share buyback plan on Friday, December 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GGG shares. Weiss Ratings upgraded Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Royal Bank Of Canada boosted their price target on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. KeyCorp restated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Jefferies Financial Group raised their price objective on shares of 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 objective on shares of 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.50.

Insider Activity

In other Graco news, insider Timothy R. White sold 1,469 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the completion of the sale, the insider directly owned 51,430 shares of the company’s stock, valued at approximately $4,664,701. This represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J Kevin Gilligan sold 12,870 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $89.07, for a total transaction of $1,146,330.90. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 19,394 shares of company stock worth $1,739,326. Company insiders own 2.19% of the company’s stock.

Graco Profile

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.