RBO & Co. LLC lifted its stake in Graco Inc. (NYSE:GGG) by 199.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,995 shares of the industrial products company’s stock after acquiring an additional 103,155 shares during the period. Graco accounts for 1.8% of RBO & Co. LLC’s portfolio, making the stock its 27th largest position. RBO & Co. LLC owned 0.09% of Graco worth $7,009,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC bought a new position in shares of Graco in the 3rd quarter worth $210,000. Boston Private Wealth LLC bought a new position in shares of Graco in the 3rd quarter worth $210,000. Janney Montgomery Scott LLC bought a new position in shares of Graco in the 3rd quarter worth $223,000. CIBC Asset Management Inc bought a new position in shares of Graco in the 3rd quarter worth $234,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Graco in the 3rd quarter worth $256,000. 64.67% of the stock is owned by hedge funds and other institutional investors.
Graco Inc. (NYSE GGG) opened at $44.87 on Friday. Graco Inc. has a 1 year low of $29.70 and a 1 year high of $49.69. The stock has a market capitalization of $7,502.90, a PE ratio of 30.87, a P/E/G ratio of 2.37 and a beta of 1.15. 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 announced its earnings results on Monday, January 29th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The business had revenue of $374.90 million for the quarter, compared to analyst estimates of $369.53 million. Graco had a net margin of 17.12% and a return on equity of 40.08%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 earnings per share. equities analysts predict that Graco Inc. will post 1.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Monday, April 16th will be paid a dividend of $0.1325 per share. The ex-dividend date is Friday, April 13th. This represents a $0.53 annualized dividend and a yield of 1.18%. Graco’s payout ratio is presently 36.47%.
GGG has been the topic of several recent analyst reports. Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. B. Riley reaffirmed a “hold” rating and set a $46.67 target price on shares of Graco in a research report on Wednesday, December 20th. SunTrust Banks reaffirmed a “hold” rating and set a $45.00 target price on shares of Graco in a research report on Wednesday, January 31st. ValuEngine lowered Graco from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $47.67 target price on shares of Graco in a research report on Friday, December 15th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Graco presently has an average rating of “Hold” and an average price target of $47.33.
In other Graco news, VP Karen Park Gallivan sold 15,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $132.00, for a total transaction of $1,980,000.00. Following the sale, the vice president now owns 30,060 shares in the company, valued at approximately $3,967,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christian E. Rothe sold 12,750 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $132.01, for a total value of $1,683,127.50. Following the sale, the chief financial officer now owns 16,905 shares in the company, valued at approximately $2,231,629.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,689 shares of company stock worth $6,646,134. Company 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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