Royal Bank of Canada Boosts Stock Position in Graco Inc. (NYSE:GGG)

Royal Bank of Canada boosted its holdings in shares of Graco Inc. (NYSE:GGG) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 179,377 shares of the industrial products company’s stock after acquiring an additional 8,224 shares during the quarter. Royal Bank of Canada owned 0.11% of Graco worth $9,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Verition Fund Management LLC bought a new position in shares of Graco in the 2nd quarter worth $480,000. Summit Global Investments grew its stake in Graco by 0.6% during the 2nd quarter. Summit Global Investments now owns 111,919 shares of the industrial products company’s stock valued at $5,616,000 after purchasing an additional 681 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Graco by 12.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,776 shares of the industrial products company’s stock valued at $641,000 after purchasing an additional 1,453 shares during the last quarter. MidWestOne Financial Group Inc. purchased a new stake in Graco during the 2nd quarter valued at about $1,694,000. Finally, Voleon Capital Management LP purchased a new stake in Graco during the 2nd quarter valued at about $1,004,000. Institutional investors own 83.99% of the company’s stock.

GGG has been the topic of several research analyst reports. ValuEngine downgraded Graco from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Robert W. Baird set a $50.00 price target on Graco and gave the company a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.20.

Shares of GGG opened at $43.85 on Wednesday. Graco Inc. has a 52 week low of $37.36 and a 52 week high of $53.91. The company has a quick ratio of 1.39, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 2.06 and a beta of 0.97. The stock’s 50-day moving average price is $45.51 and its 200-day moving average price is $48.67.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $428.30 million during the quarter, compared to analysts’ expectations of $444.93 million. Graco had a return on equity of 39.22% and a net margin of 20.61%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS. As a group, equities analysts anticipate that Graco Inc. will post 1.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.64 dividend on an annualized basis and a yield of 1.46%. Graco’s dividend payout ratio is currently 34.04%.

In other Graco news, Director William J. Carroll sold 6,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $46.53, for a total transaction of $279,180.00. Following the transaction, the director now owns 49,984 shares in the company, valued at $2,325,755.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.23% of the company’s stock.

About Graco

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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