Principal Financial Group Inc. increased its holdings in Graco Inc. (NYSE:GGG) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 748,219 shares of the industrial products company’s stock after buying an additional 27,359 shares during the period. Principal Financial Group Inc. owned about 0.45% of Graco worth $34,208,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in GGG. BlackRock Inc. increased its stake in shares of Graco by 213.0% during the 4th quarter. BlackRock Inc. now owns 14,002,690 shares of the industrial products company’s stock valued at $633,202,000 after acquiring an additional 9,529,107 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its holdings in Graco by 171.7% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 3,907,999 shares of the industrial products company’s stock worth $176,720,000 after acquiring an additional 2,469,513 shares during the period. Bank of New York Mellon Corp boosted its holdings in Graco by 190.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,578,707 shares of the industrial products company’s stock worth $116,609,000 after acquiring an additional 1,689,416 shares during the period. Wells Fargo & Company MN boosted its holdings in Graco by 210.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,063,783 shares of the industrial products company’s stock worth $93,325,000 after acquiring an additional 1,399,844 shares during the period. Finally, Jackson Square Partners LLC boosted its stake in shares of Graco by 224.5% during the 4th quarter. Jackson Square Partners LLC now owns 1,976,253 shares of the industrial products company’s stock valued at $89,366,000 after buying an additional 1,367,272 shares during the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.
Several equities analysts recently issued reports on GGG shares. Zacks Investment Research upgraded Graco from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective on the stock in a research note on Wednesday, May 2nd. ValuEngine raised Graco from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, DA Davidson began coverage on Graco in a research report on Thursday, April 12th. They issued a “neutral” rating and a $48.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Graco presently has a consensus rating of “Hold” and a consensus target price of $47.30.
In related news, VP Jeffrey P. Johnson sold 90,000 shares of the stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $47.06, for a total transaction of $4,235,400.00. Following the completion of the transaction, the vice president now directly owns 48,971 shares of the company’s stock, valued at $2,304,575.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey P. Johnson sold 5,534 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $46.35, for a total value of $256,500.90. Following the completion of the sale, the vice president now owns 48,971 shares in the company, valued at approximately $2,269,805.85. The disclosure for this sale can be found here. Insiders have sold 347,204 shares of company stock valued at $15,838,068 over the last ninety days. 5.10% of the stock is owned by insiders.
Shares of GGG stock opened at $45.22 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. The firm has a market capitalization of $7.55 billion, a P/E ratio of 27.07, a P/E/G ratio of 2.31 and a beta of 1.14. Graco Inc. has a one year low of $34.89 and a one year high of $49.69.
Graco (NYSE:GGG) last posted its quarterly earnings data 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 company had revenue of $406.30 million for the quarter, compared to analyst estimates of $369.61 million. Graco had a return on equity of 41.12% and a net margin of 17.99%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. research analysts expect that Graco Inc. will post 1.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Sunday, July 15th will be given a dividend of $0.1325 per share. The ex-dividend date is Thursday, July 12th. This represents a $0.53 annualized dividend and a dividend yield of 1.17%. Graco’s dividend payout ratio is currently 37.06%.
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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