Conestoga Capital Advisors LLC boosted its stake in Graco Inc. (NYSE:GGG) by 141.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,236 shares of the industrial products company’s stock after purchasing an additional 37,057 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Graco were worth $2,860,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Hexavest Inc. boosted its position in Graco by 200.0% during the fourth quarter. Hexavest Inc. now owns 4,200 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 2,800 shares during the last quarter. Parallax Volatility Advisers L.P. boosted its position in Graco by 127.0% during the second quarter. Parallax Volatility Advisers L.P. now owns 1,918 shares of the industrial products company’s stock valued at $210,000 after purchasing an additional 1,073 shares during the last quarter. Ballentine Partners LLC acquired a new position in Graco during the third quarter valued at approximately $210,000. Boston Private Wealth LLC acquired a new position in Graco during the third quarter valued at approximately $210,000. Finally, Tiedemann Wealth Management LLC raised its stake in Graco by 62.8% in the third quarter. Tiedemann Wealth Management LLC now owns 4,920 shares of the industrial products company’s stock valued at $214,000 after buying an additional 1,898 shares during the period. 36.93% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on GGG shares. KeyCorp restated a “hold” rating on shares of Graco in a research note on Friday, October 20th. FBR & Co set a $46.67 price objective on Graco and gave the company a “hold” rating in a research note on Thursday, October 26th. Robert W. Baird reiterated a “hold” rating and set a $45.00 target price on shares of Graco in a research note on Friday, October 27th. SunTrust Banks reiterated a “hold” rating and set a $42.67 target price on shares of Graco in a research note on Friday, October 27th. Finally, Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Graco currently has an average rating of “Hold” and a consensus price target of $47.33.
Shares of Graco Inc. (NYSE:GGG) traded up $1.07 during mid-day trading on Wednesday, hitting $43.31. The company’s stock had a trading volume of 757,041 shares, compared to its average volume of 870,948. The firm has a market cap of $7,290.00, a P/E ratio of 29.87, a PEG ratio of 2.24 and a beta of 1.15. Graco Inc. has a 52-week low of $29.70 and a 52-week high of $49.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 2.70.
Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). Graco had a net margin of 17.12% and a return on equity of 40.08%. The firm had revenue of $374.90 million for the quarter, compared to analyst estimates of $369.53 million. During the same period last year, the business earned $1.00 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. analysts expect that Graco Inc. will post 1.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Monday, January 22nd were given a dividend of $0.3975 per share. This is a positive change from Graco’s previous quarterly dividend of $0.36. This represents a $1.59 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Friday, January 19th. Graco’s dividend payout ratio (DPR) is currently 36.55%.
In related news, VP Mark D. Eberlein sold 5,902 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $130.26, for a total value of $768,794.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Caroline M. Chambers sold 9,939 shares of Graco stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.03, for a total value of $417,736.17. Following the transaction, the vice president now owns 30,615 shares of the company’s stock, valued at approximately $1,286,748.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,591 shares of company stock valued at $8,730,528. 5.70% of the stock is owned by corporate insiders.
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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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