Zeke Capital Advisors LLC boosted its holdings in Graco Inc. (NYSE:GGG) by 214.4% in the 4th quarter, HoldingsChannel reports. The firm owned 58,395 shares of the industrial products company’s stock after acquiring an additional 39,820 shares during the period. Zeke Capital Advisors LLC’s holdings in Graco were worth $2,641,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of the business. Public Employees Retirement System of Ohio raised its position in shares of Graco by 4.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 108,820 shares of the industrial products company’s stock valued at $13,460,000 after buying an additional 5,072 shares in the last quarter. Cigna Investments Inc. New raised its position in shares of Graco by 200.0% in the 4th quarter. Cigna Investments Inc. New now owns 18,744 shares of the industrial products company’s stock valued at $848,000 after buying an additional 12,496 shares in the last quarter. CrestPoint Capital Management LLC raised its position in shares of Graco by 200.0% in the 4th quarter. CrestPoint Capital Management LLC now owns 7,800 shares of the industrial products company’s stock valued at $353,000 after buying an additional 5,200 shares in the last quarter. New Mexico Educational Retirement Board acquired a new position in shares of Graco in the 4th quarter valued at approximately $1,886,000. Finally, Confluence Investment Management LLC raised its position in shares of Graco by 195.2% in the 4th quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock valued at $106,147,000 after buying an additional 1,552,175 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.
In related news, VP Karen Park Gallivan sold 27,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 72,305 shares in the company, valued at approximately $3,495,223.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William J. Carroll sold 26,625 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $46.67, for a total transaction of $1,242,588.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,564 shares of company stock valued at $4,225,595. 5.70% of the stock is owned by corporate insiders.
Graco Inc. (NYSE:GGG) opened at $46.40 on Thursday. The stock has a market cap of $7,850.26, a P/E ratio of 31.93, a P/E/G ratio of 2.48 and a beta of 1.17. Graco Inc. has a 12-month low of $30.59 and a 12-month high of $49.69. The company has a current ratio of 2.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31.
Graco (NYSE:GGG) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $369.53 million. Graco had a return on equity of 40.08% and a net margin of 17.12%. Graco’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. analysts anticipate that Graco Inc. will post 1.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Investors of record on Monday, April 16th will be given a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, April 13th. Graco’s dividend payout ratio is 36.47%.
Several equities analysts have recently commented on the stock. Deutsche Bank upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Tuesday, January 23rd. Oppenheimer restated a “hold” rating on shares of Graco in a research report on Thursday, December 28th. Royal Bank of Canada restated a “hold” rating and issued a $49.00 target price on shares of Graco in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Robert W. Baird restated a “hold” rating and issued a $47.67 target price on shares of Graco in a research report on Friday, December 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Graco currently has a consensus rating of “Hold” and an average target price of $47.33.
TRADEMARK VIOLATION WARNING: This piece of content was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/03/15/zeke-capital-advisors-llc-has-2-64-million-holdings-in-graco-inc-ggg.html.
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.
Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG).
Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.