Zeke Capital Advisors LLC boosted its holdings in Graco (NYSE:GGG) by 214.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,395 shares of the industrial products company’s stock after purchasing an additional 39,820 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Graco were worth $2,641,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its stake 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 buying an additional 9,529,107 shares during the last quarter. Atlanta Capital Management Co. L L C lifted its stake in Graco by 171.7% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 3,907,999 shares of the industrial products company’s stock valued at $176,720,000 after buying an additional 2,469,513 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in Graco by 162.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,025,330 shares of the industrial products company’s stock valued at $136,805,000 after buying an additional 1,872,855 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Graco by 190.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,578,707 shares of the industrial products company’s stock valued at $116,609,000 after buying an additional 1,689,416 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its stake in Graco by 195.2% in the fourth 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 during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on GGG shares. Zacks Investment Research cut Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. B. Riley reiterated a “hold” rating and issued a $46.67 target price on shares of Graco in a research note on Wednesday, December 20th. SunTrust Banks reiterated a “hold” rating and issued a $45.00 target price on shares of Graco in a research note on Wednesday, January 31st. ValuEngine cut shares of Graco from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Robert W. Baird restated a “hold” rating and set a $47.67 price objective on shares of Graco in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.33.
In related news, VP Karen Park Gallivan sold 27,000 shares of Graco stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $48.34, for a total transaction of $1,305,180.00. Following the transaction, the vice president now directly owns 72,305 shares of the company’s stock, valued at $3,495,223.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William J. Carroll sold 26,625 shares of Graco stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $46.67, for a total value of $1,242,588.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,564 shares of company stock worth $2,965,505. 5.10% of the stock is owned by corporate insiders.
Shares of NYSE GGG opened at $45.09 on Friday. Graco has a fifty-two week low of $30.80 and a fifty-two week 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. The stock has a market cap of $7,779.10, a P/E ratio of 31.53, a P/E/G ratio of 2.45 and a beta of 1.15.
Graco (NYSE:GGG) last issued its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $374.90 million for 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%. 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 firm earned $1.00 earnings per share. analysts predict that Graco will post 1.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Investors of record on Monday, April 16th will be issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, April 13th. Graco’s payout ratio is currently 37.06%.
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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 worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.
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