Old Mutual Global Investors UK Ltd. Acquires 927,341 Shares of Graco Inc. (GGG)

Old Mutual Global Investors UK Ltd. raised its holdings in shares of Graco Inc. (NYSE:GGG) by 504.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,111,026 shares of the industrial products company’s stock after purchasing an additional 927,341 shares during the period. Old Mutual Global Investors UK Ltd. owned about 0.66% of Graco worth $50,240,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew its position in shares of Graco by 162.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,025,330 shares of the industrial products company’s stock worth $136,805,000 after acquiring an additional 1,872,855 shares during the last quarter. Confluence Investment Management LLC grew its position in shares of Graco by 195.2% during the fourth quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock worth $106,147,000 after acquiring an additional 1,552,175 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Graco by 187.8% during the fourth quarter. Gabelli Funds LLC now owns 1,133,400 shares of the industrial products company’s stock worth $51,252,000 after acquiring an additional 739,600 shares during the last quarter. Fenimore Asset Management Inc. grew its position in shares of Graco by 199.0% during the fourth quarter. Fenimore Asset Management Inc. now owns 971,481 shares of the industrial products company’s stock worth $43,930,000 after acquiring an additional 646,572 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Graco by 207.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 952,411 shares of the industrial products company’s stock worth $43,069,000 after acquiring an additional 642,322 shares during the last quarter. Hedge funds and other institutional investors own 36.93% of the company’s stock.

GGG has been the subject of several recent research reports. Deutsche Bank upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Tuesday, January 23rd. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Saturday, February 3rd. Royal Bank of Canada restated a “hold” rating and set a $49.00 price target on shares of Graco in a research report on Thursday, January 4th. Oppenheimer restated a “hold” rating on shares of Graco in a research report on Thursday, December 28th. Finally, SunTrust Banks restated a “hold” rating and set a $42.67 price target on shares of Graco in a research report on Friday, October 27th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.33.

Graco Inc. (NYSE:GGG) opened at $42.24 on Wednesday. The stock has a market cap of $7,069.01, a PE ratio of 27.38, a P/E/G ratio of 2.24 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.67. Graco Inc. has a 12-month low of $29.70 and a 12-month high of $49.69.

Graco (NYSE:GGG) last announced its earnings results on Monday, January 29th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). The company had revenue of $374.90 million during the quarter, compared to the consensus estimate of $369.53 million. Graco had a net margin of 17.12% and a return on equity of 40.08%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. equities analysts forecast that Graco Inc. will post 1.78 earnings per share 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 $0.3975 dividend. This represents a $1.59 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Friday, January 19th. This is a positive change from Graco’s previous quarterly dividend of $0.36. Graco’s dividend payout ratio is currently 36.47%.

In related news, VP Caroline M. Chambers sold 9,939 shares of the 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 completion of the transaction, the vice president now owns 30,615 shares in the company, valued at approximately $1,286,748.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Karen Park Gallivan sold 27,000 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $48.34, for a total transaction of $1,305,180.00. Following the completion of the transaction, the vice president now owns 72,305 shares of the company’s stock, valued at approximately $3,495,223.70. The disclosure for this sale can be found here. Insiders sold a total of 107,591 shares of company stock valued at $8,730,528 in the last quarter. 5.70% of the stock is currently owned by insiders.

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Graco Company Profile

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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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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