SNS Financial Group LLC purchased a new stake in shares of Graco Inc. (NYSE:GGG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,541 shares of the industrial products company’s stock, valued at approximately $521,000.
Several other hedge funds have also added to or reduced their stakes in the company. Cardinal Capital Management increased its position in shares of Graco by 6.8% during the third quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock worth $942,000 after buying an additional 488 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Graco by 4.9% during the third quarter. Public Employees Retirement System of Ohio now owns 108,820 shares of the industrial products company’s stock worth $13,460,000 after buying an additional 5,072 shares during the period. Prudential Financial Inc. increased its position in shares of Graco by 6.3% during the third quarter. Prudential Financial Inc. now owns 348,478 shares of the industrial products company’s stock worth $43,103,000 after buying an additional 20,740 shares during the period. Conestoga Capital Advisors LLC increased its position in shares of Graco by 24.3% during the third quarter. Conestoga Capital Advisors LLC now owns 26,179 shares of the industrial products company’s stock worth $3,238,000 after buying an additional 5,126 shares during the period. Finally, Confluence Investment Management LLC increased its position in shares of Graco by 195.2% during the fourth quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock worth $106,147,000 after buying an additional 1,552,175 shares during the period. 64.67% of the stock is owned by hedge funds and other institutional investors.
In other Graco news, CFO Christian E. Rothe sold 12,750 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $132.01, for a total value of $1,683,127.50. Following the transaction, the chief financial officer now directly owns 16,905 shares of the company’s stock, valued at $2,231,629.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Karen Park Gallivan sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $132.00, for a total transaction of $1,980,000.00. Following the completion of the transaction, the vice president now directly owns 30,060 shares in the company, valued at $3,967,920. The disclosure for this sale can be found here. Insiders sold 101,689 shares of company stock valued at $7,961,734 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.
Several equities research analysts have recently weighed in on GGG shares. FBR & Co set a $46.67 price objective on shares of Graco and gave the stock a “hold” rating in a research report on Thursday, October 26th. Robert W. Baird reiterated a “hold” rating and set a $45.00 price objective on shares of Graco in a research report on Friday, October 27th. SunTrust Banks reiterated a “hold” rating and set a $42.67 price objective on shares of Graco in a research report on Friday, October 27th. Zacks Investment Research cut shares of Graco from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, B. Riley restated a “neutral” rating on shares of Graco in a report on Wednesday, November 1st. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $47.33.
Shares of Graco Inc. (GGG) opened at $44.04 on Monday. The company has a quick ratio of 1.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The company has a market cap of $7,415.90, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.15. Graco Inc. has a twelve month low of $29.70 and a twelve month high of $49.69.
Graco (NYSE:GGG) last posted its quarterly earnings results on Monday, January 29th. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $374.90 million during the quarter, compared to analyst estimates of $369.53 million. Graco had a return on equity of 40.08% and a net margin of 17.12%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 earnings per share. equities analysts predict that Graco Inc. will post 1.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Monday, April 16th will be issued a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 1.20%. Graco’s payout ratio is 36.47%.
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Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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