Andra AP fonden Purchases 36,969 Shares of Graco Inc. $GGG

Andra AP fonden grew its holdings in Graco Inc. (NYSE:GGG) by 42.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,100 shares of the industrial products company’s stock after purchasing an additional 36,969 shares during the quarter. Andra AP fonden owned approximately 0.07% of Graco worth $10,505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Cassaday & Co Wealth Management LLC bought a new stake in shares of Graco in the 1st quarter valued at about $26,000. Whipplewood Advisors LLC raised its stake in shares of Graco by 2,650.0% during the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 452 shares during the last quarter. Field & Main Bank purchased a new stake in Graco during the fourth quarter valued at approximately $41,000. Finally, Root Financial Partners LLC boosted its stake in Graco by 43.2% in the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Andrea Helen Simon acquired 1,240 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the purchase, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.18% of the company’s stock.

Wall Street Analyst Weigh In

GGG has been the topic of several analyst reports. Robert W. Baird cut their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Weiss Ratings cut Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. DA Davidson restated a “neutral” rating and set a $85.00 target price on shares of Graco in a research note on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $92.00 target price (down from $95.00) on shares of Graco in a research report on Thursday, July 16th. Finally, Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $93.50.

Graco Price Performance

Shares of GGG stock opened at $73.19 on Wednesday. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.37 and a beta of 0.93. The business has a fifty day moving average of $75.03 and a 200 day moving average of $82.77. Graco Inc. has a 1 year low of $72.51 and a 1 year high of $95.69.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The business had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts expect that Graco Inc. will post 3.1 earnings per share for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, July 20th. Graco’s dividend payout ratio (DPR) is currently 38.44%.

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.