Teacher Retirement System of Texas lifted its position in shares of Graco Inc. (NYSE:GGG) by 1,142.5% during the 4th quarter, HoldingsChannel reports. The firm owned 57,129 shares of the industrial products company’s stock after acquiring an additional 52,531 shares during the period. Teacher Retirement System of Texas’ holdings in Graco were worth $2,583,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GGG. Meeder Asset Management Inc. raised its stake in Graco by 53.5% during the fourth quarter. Meeder Asset Management Inc. now owns 3,174 shares of the industrial products company’s stock valued at $144,000 after buying an additional 1,106 shares during the last quarter. Hexavest Inc. raised its stake 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 buying an additional 2,800 shares during the last quarter. Fiduciary Trust Co. purchased a new position in Graco during the fourth quarter valued at $201,000. Ballentine Partners LLC purchased a new position in Graco during the third quarter valued at $210,000. Finally, Boston Private Wealth LLC purchased a new position in Graco during the third quarter valued at $210,000. Institutional investors own 64.67% of the company’s stock.
In other news, CFO Christian E. Rothe sold 12,750 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $132.01, for a total value of $1,683,127.50. Following the completion of the transaction, the chief financial officer now owns 16,905 shares in the company, valued at $2,231,629.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Caroline M. Chambers sold 9,939 shares of the business’s stock in a transaction on Monday, February 12th. The stock was 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 of the company’s stock, valued at approximately $1,286,748.45. The disclosure for this sale can be found here. Insiders sold 91,689 shares of company stock valued at $6,646,134 in the last 90 days. Company insiders own 5.70% of the company’s stock.
Graco Inc. (NYSE GGG) opened at $43.96 on Wednesday. Graco Inc. has a one year low of $29.70 and a one year high of $49.69. The company has a quick ratio of 1.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7,415.90, a price-to-earnings ratio of 28.72, a PEG ratio of 2.35 and a beta of 1.15.
Graco (NYSE:GGG) last posted its quarterly earnings results 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 return on equity of 40.08% and a net margin of 17.12%. The business had revenue of $374.90 million during the quarter, compared to analysts’ expectations of $369.53 million. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. research analysts expect that Graco Inc. will post 1.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Monday, April 16th will be paid a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, April 13th. Graco’s dividend payout ratio is currently 36.47%.
GGG has been the subject of a number of recent research reports. SunTrust Banks reiterated a “hold” rating and set a $42.67 price objective on shares of Graco in a research note on Friday, October 27th. Zacks Investment Research cut Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. ValuEngine cut Graco from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. B. Riley reiterated a “hold” rating and set a $46.67 price objective on shares of Graco in a research note on Wednesday, December 20th. Finally, Robert W. Baird reiterated a “hold” rating and set a $45.00 price objective on shares of Graco in a research note on Friday, October 27th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $47.33.
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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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