Summit Global Investments acquired a new stake in Graco Inc. (NYSE:GGG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 109,115 shares of the industrial products company’s stock, valued at approximately $4,566,000.
Several other large investors also recently added to or reduced their stakes in GGG. Stockman Wealth Management Inc. boosted its position in shares of Graco by 31.5% in the fourth quarter. Stockman Wealth Management Inc. now owns 7,715 shares of the industrial products company’s stock valued at $323,000 after acquiring an additional 1,850 shares during the period. Bbva Compass Bancshares Inc. boosted its position in shares of Graco by 32.3% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 47,438 shares of the industrial products company’s stock valued at $1,986,000 after acquiring an additional 11,569 shares during the period. LPL Financial LLC boosted its position in shares of Graco by 16.1% in the fourth quarter. LPL Financial LLC now owns 10,521 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 1,462 shares during the period. Eaton Vance Management boosted its position in shares of Graco by 69.0% in the fourth quarter. Eaton Vance Management now owns 50,971 shares of the industrial products company’s stock valued at $2,133,000 after acquiring an additional 20,812 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its position in Graco by 1.1% during the fourth quarter. Virginia Retirement Systems ET AL now owns 36,900 shares of the industrial products company’s stock worth $1,544,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.
GGG traded up $0.49 on Friday, hitting $47.28. 476,593 shares of the stock were exchanged, compared to its average volume of 647,513. Graco Inc. has a 12 month low of $37.36 and a 12 month high of $48.33. The company has a quick ratio of 1.47, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 2.41 and a beta of 1.00.
Graco (NYSE:GGG) last posted its quarterly earnings data on Monday, January 28th. The industrial products company reported $0.43 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Graco had a net margin of 20.63% and a return on equity of 43.67%. The business had revenue of $406.40 million during the quarter, compared to analysts’ expectations of $404.14 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. Graco’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Graco Inc. will post 2.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, April 12th. This represents a $0.64 annualized dividend and a yield of 1.35%. Graco’s dividend payout ratio is 34.04%.
Several equities research analysts recently weighed in on GGG shares. ValuEngine raised shares of Graco from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research cut shares of Graco from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Seaport Global Securities reaffirmed a “hold” rating on shares of Graco in a research report on Wednesday, January 30th. Royal Bank of Canada reaffirmed a “hold” rating and set a $46.00 price objective on shares of Graco in a research report on Wednesday, January 30th. Finally, Jefferies Financial Group started coverage on shares of Graco in a research report on Friday, January 25th. They set a “hold” rating and a $46.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $46.20.
In other Graco news, VP Angela F. Wordell sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $43.63, for a total transaction of $109,075.00. Following the completion of the transaction, the vice president now owns 10,802 shares of the company’s stock, valued at $471,291.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy R. White sold 4,800 shares of the business’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $43.77, for a total value of $210,096.00. Following the transaction, the insider now directly owns 48,889 shares of the company’s stock, valued at approximately $2,139,871.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,600 shares of company stock valued at $1,309,195. Insiders own 5.10% of the company’s stock.
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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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