Legal & General Group Plc Boosts Holdings in Graco Inc. (GGG)

Legal & General Group Plc raised its position in shares of Graco Inc. (NYSE:GGG) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 212,429 shares of the industrial products company’s stock after acquiring an additional 17,451 shares during the quarter. Legal & General Group Plc owned approximately 0.13% of Graco worth $9,713,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. State Treasurer State of Michigan boosted its position in Graco by 2.0% during the 1st quarter. State Treasurer State of Michigan now owns 61,800 shares of the industrial products company’s stock valued at $2,825,000 after acquiring an additional 1,200 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Graco by 4.8% during the 1st quarter. Thrivent Financial for Lutherans now owns 38,651 shares of the industrial products company’s stock valued at $1,767,000 after acquiring an additional 1,778 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Graco by 3.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 52,650 shares of the industrial products company’s stock valued at $2,407,000 after acquiring an additional 1,830 shares in the last quarter. First Republic Investment Management Inc. boosted its position in Graco by 12.1% during the 1st quarter. First Republic Investment Management Inc. now owns 17,315 shares of the industrial products company’s stock valued at $792,000 after acquiring an additional 1,864 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Graco by 0.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 270,475 shares of the industrial products company’s stock worth $12,364,000 after purchasing an additional 2,116 shares in the last quarter. 85.94% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Friday. ValuEngine raised Graco from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, DA Davidson assumed coverage on Graco in a research report on Thursday, April 12th. They issued a “neutral” rating and a $48.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $47.30.

Shares of GGG opened at $44.92 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.60 and a debt-to-equity ratio of 0.39. Graco Inc. has a 52 week low of $34.89 and a 52 week high of $49.69. The company has a market capitalization of $7.53 billion, a PE ratio of 31.48, a P/E/G ratio of 2.30 and a beta of 1.14.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $369.61 million. Graco had a return on equity of 41.12% and a net margin of 17.99%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. analysts forecast that Graco Inc. will post 1.89 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Sunday, July 15th will be given a $0.1325 dividend. The ex-dividend date is Thursday, July 12th. This represents a $0.53 annualized dividend and a yield of 1.18%. Graco’s dividend payout ratio (DPR) is presently 37.06%.

In related news, VP Jeffrey P. Johnson sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $47.06, for a total value of $4,235,400.00. Following the transaction, the vice president now directly owns 48,971 shares of the company’s stock, valued at approximately $2,304,575.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Etchart sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $43.83, for a total value of $657,450.00. The disclosure for this sale can be found here. Insiders sold a total of 347,204 shares of company stock worth $15,838,068 over the last ninety days. 5.10% of the stock is currently owned by insiders.

About Graco

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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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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