Ridgewood Investments LLC increased its stake in shares of Graco Inc. (NYSE:GGG) by 180.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 21,546 shares of the industrial products company’s stock after purchasing an additional 13,870 shares during the period. Graco makes up approximately 0.9% of Ridgewood Investments LLC’s investment portfolio, making the stock its 25th largest position. Ridgewood Investments LLC’s holdings in Graco were worth $974,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Cardinal Capital Management lifted its position in shares of Graco by 6.8% during the 3rd quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock worth $942,000 after purchasing an additional 488 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Graco by 4.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 108,820 shares of the industrial products company’s stock worth $13,460,000 after acquiring an additional 5,072 shares in the last quarter. Prudential Financial Inc. increased its stake in Graco by 6.3% in the third quarter. Prudential Financial Inc. now owns 348,478 shares of the industrial products company’s stock valued at $43,103,000 after purchasing an additional 20,740 shares during the period. JPMorgan Chase & Co. increased its stake in Graco by 8.4% in the second quarter. JPMorgan Chase & Co. now owns 305,782 shares of the industrial products company’s stock valued at $33,416,000 after purchasing an additional 23,718 shares during the period. Finally, Schroder Investment Management Group acquired a new position in Graco in the second quarter valued at $1,458,000. 29.92% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $49.00 target price on shares of Graco in a report on Thursday, January 4th. Oppenheimer reissued a “hold” rating on shares of Graco in a report on Thursday, December 28th. FBR & Co set a $46.67 price target on shares of Graco and gave the company a “hold” rating in a report on Thursday, October 26th. SunTrust Banks reaffirmed a “hold” rating and issued a $42.67 price target on shares of Graco in a report on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Graco from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Thirteen investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $41.67.
Shares of Graco Inc. (NYSE:GGG) opened at $47.92 on Monday. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31. Graco Inc. has a twelve month low of $28.60 and a twelve month high of $47.98. The firm has a market cap of $8,069.25, a price-to-earnings ratio of 75.66, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23.
Graco (NYSE:GGG) last released its earnings results on Wednesday, October 25th. The industrial products company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. Graco had a net margin of 7.72% and a return on equity of 42.05%. The firm had revenue of $379.81 million for the quarter, compared to analysts’ expectations of $356.30 million. During the same quarter last year, the company earned $0.32 EPS. Graco’s quarterly revenue was up 16.1% on a year-over-year basis. sell-side analysts anticipate that Graco Inc. will post 1.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Monday, January 22nd will be given a dividend of $0.3975 per share. This is a positive change from Graco’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, January 19th. This represents a $1.59 annualized dividend and a dividend yield of 3.32%. Graco’s dividend payout ratio (DPR) is 75.79%.
In related news, VP Mark W. Sheahan sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $131.31, for a total transaction of $3,939,300.00. Following the completion of the sale, the vice president now directly owns 49,538 shares in the company, valued at $6,504,834.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Mark D. Eberlein sold 5,902 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $130.26, for a total transaction of $768,794.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 681,252 shares of company stock valued at $18,239,770. Insiders own 5.70% of the company’s stock.
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Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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