Sheaff Brock Investment Advisors LLC raised its stake in Graco Inc. (NYSE:GGG) by 200.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,097 shares of the industrial products company’s stock after purchasing an additional 5,398 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Graco were worth $366,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Graco by 213.0% in the fourth quarter. BlackRock Inc. now owns 14,002,690 shares of the industrial products company’s stock valued at $633,202,000 after purchasing an additional 9,529,107 shares during the period. Atlanta Capital Management Co. L L C increased its position in shares of Graco by 171.7% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 3,907,999 shares of the industrial products company’s stock worth $176,720,000 after acquiring an additional 2,469,513 shares during the last quarter. Gamco Investors INC. ET AL increased 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. Bank of New York Mellon Corp increased its position in shares of Graco by 190.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,578,707 shares of the industrial products company’s stock worth $116,609,000 after acquiring an additional 1,689,416 shares during the last quarter. Finally, Confluence Investment Management LLC increased 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. 64.67% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Saturday, February 3rd. 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. B. Riley lifted their target price on Graco from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Deutsche Bank raised Graco from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, January 23rd. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $49.00 price objective on shares of Graco in a report on Thursday, January 4th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.33.
Graco Inc. (GGG) opened at $45.00 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Graco Inc. has a 52 week low of $29.70 and a 52 week high of $49.69. The company has a market capitalization of $7,602.88, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15.
Graco (NYSE:GGG) last issued its earnings results on Monday, January 29th. The industrial products company reported $0.34 EPS for the quarter, missing the Zacks’ 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 company had revenue of $374.90 million during the quarter, compared to analyst estimates of $369.53 million. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. equities research analysts predict that Graco Inc. will post 1.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Monday, April 16th will be given a dividend of $0.1325 per share. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.53 annualized dividend and a dividend yield of 1.18%. Graco’s dividend payout ratio is presently 36.47%.
In other news, CFO Christian E. Rothe sold 12,750 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $132.01, for a total transaction of $1,683,127.50. Following the completion of the transaction, the chief financial officer now directly owns 16,905 shares in the company, valued at $2,231,629.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Caroline M. Chambers sold 9,939 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 30,615 shares of the company’s stock, valued at $1,286,748.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,689 shares of company stock valued at $6,646,134. 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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