CWA Asset Management Group LLC Makes New $3.53 Million Investment in Graco Inc. $GGG

CWA Asset Management Group LLC bought a new position in Graco Inc. (NYSE:GGG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 43,032 shares of the industrial products company’s stock, valued at approximately $3,527,000.

Several other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after purchasing an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares in the last quarter. Swiss National Bank lifted its stake in Graco by 6.7% during the second quarter. Swiss National Bank now owns 508,300 shares of the industrial products company’s stock worth $43,699,000 after purchasing an additional 32,000 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Graco by 7.4% during the second quarter. DNB Asset Management AS now owns 47,144 shares of the industrial products company’s stock worth $4,053,000 after buying an additional 3,266 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Graco by 1.2% during the second quarter. Legal & General Group Plc now owns 665,459 shares of the industrial products company’s stock worth $57,210,000 after buying an additional 7,980 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Insider Buying and Selling at Graco

In other Graco news, Director J Kevin Gilligan sold 12,870 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total transaction of $1,146,330.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the transaction, the executive vice president owned 7,846 shares of the company’s stock, valued at approximately $690,918.76. The trade was a 22.08% 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 valued at $1,739,326 over the last ninety days. 2.19% of the stock is currently owned by corporate insiders.

Graco Trading Down 0.4%

Shares of Graco stock opened at $83.96 on Friday. The company has a fifty day simple moving average of $89.74 and a 200-day simple moving average of $85.34. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $95.69. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 2.63 and a beta of 1.07.

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

Graco declared that its Board of Directors has authorized a stock repurchase program on Friday, December 5th that authorizes the company to buyback 15,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Graco Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Graco Company 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.