Fiera Capital Corp increased its stake in Graco Inc. (NYSE:GGG) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,490,109 shares of the industrial products company’s stock after buying an additional 301,624 shares during the period. Graco accounts for 2.1% of Fiera Capital Corp’s portfolio, making the stock its 10th largest position. Fiera Capital Corp owned approximately 5.66% of Graco worth $433,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can grew its holdings in shares of Graco by 28.4% during the fourth quarter. Bank of Montreal Can now owns 136,641 shares of the industrial products company’s stock valued at $6,179,000 after buying an additional 30,233 shares during the last quarter. Creative Planning grew its holdings in shares of Graco by 212.7% during the fourth quarter. Creative Planning now owns 15,862 shares of the industrial products company’s stock valued at $717,000 after buying an additional 10,790 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Graco by 207.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 952,411 shares of the industrial products company’s stock valued at $43,069,000 after buying an additional 642,322 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Graco during the fourth quarter valued at approximately $556,000. Finally, SG Americas Securities LLC grew its holdings in shares of Graco by 1,076.1% during the fourth quarter. SG Americas Securities LLC now owns 33,459 shares of the industrial products company’s stock valued at $1,513,000 after buying an additional 30,614 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.
In related news, Director Eric Etchart sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $43.83, for a total transaction of $657,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeffrey P. Johnson sold 5,534 shares of the firm’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $46.35, for a total transaction of $256,500.90. Following the transaction, the vice president now directly owns 48,971 shares of the company’s stock, valued at $2,269,805.85. The disclosure for this sale can be found here. Insiders have sold a total of 347,204 shares of company stock worth $15,838,068 over the last 90 days. Insiders own 5.10% of the company’s stock.
GGG has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Graco from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Graco from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Finally, DA Davidson assumed coverage on shares of Graco in a research report on Thursday, April 12th. They set a “neutral” rating and a $48.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $47.30.
Graco opened at $46.54 on Friday, according to Marketbeat.com. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 2.44 and a beta of 1.14. Graco Inc. has a 1-year low of $34.89 and a 1-year high of $49.69. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.60 and a current ratio of 2.55.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 25th. The industrial products company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The firm had revenue of $406.30 million for the quarter, compared to the consensus estimate of $369.61 million. Graco had a net margin of 17.99% and a return on equity of 41.12%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the firm earned $1.05 EPS. equities analysts anticipate that Graco Inc. will post 1.89 EPS for the current year.
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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