Swiss National Bank Acquires 192,600 Shares of Graco Inc. (GGG)

Swiss National Bank grew its holdings in shares of Graco Inc. (NYSE:GGG) by 206.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,900 shares of the industrial products company’s stock after acquiring an additional 192,600 shares during the period. Swiss National Bank owned about 0.17% of Graco worth $12,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Cardinal Capital Management grew its position in shares of Graco by 6.8% during the 3rd quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock valued at $942,000 after acquiring an additional 488 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Graco by 4.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 108,820 shares of the industrial products company’s stock valued at $13,460,000 after acquiring an additional 5,072 shares during the period. Prudential Financial Inc. grew its position in shares of Graco by 6.3% during the 3rd quarter. Prudential Financial Inc. now owns 348,478 shares of the industrial products company’s stock valued at $43,103,000 after acquiring an additional 20,740 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Graco by 24.3% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 26,179 shares of the industrial products company’s stock valued at $3,238,000 after acquiring an additional 5,126 shares during the period. Finally, Confluence Investment Management LLC grew its position in shares of Graco by 195.2% during the 4th quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock valued at $106,147,000 after acquiring an additional 1,552,175 shares during the period. 64.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Graco Inc. (NYSE:GGG) opened at $44.04 on Tuesday. The company has a current ratio of 2.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31. The stock has a market cap of $7,415.90, a PE ratio of 30.30, a PEG ratio of 2.35 and a beta of 1.15. Graco Inc. has a 1 year low of $29.70 and a 1 year high of $49.69.

Graco (NYSE:GGG) last announced its earnings results on Monday, January 29th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $374.90 million for the quarter, compared to analysts’ expectations of $369.53 million. Graco had a net margin of 17.12% and a return on equity of 40.08%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. sell-side analysts anticipate that Graco Inc. will post 1.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Monday, April 16th will be given a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 1.20%. Graco’s dividend payout ratio is 36.47%.

In other news, CFO Christian E. Rothe sold 12,750 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $132.01, for a total transaction of $1,683,127.50. Following the sale, the chief financial officer now directly owns 16,905 shares in the company, valued at approximately $2,231,629.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Caroline M. Chambers sold 9,939 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.03, for a total transaction of $417,736.17. Following the sale, the vice president now owns 30,615 shares in the company, valued at $1,286,748.45. The disclosure for this sale can be found here. Insiders have sold a total of 91,689 shares of company stock worth $6,646,134 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

A number of equities research analysts have recently issued reports on GGG shares. SunTrust Banks reaffirmed a “hold” rating and issued a $42.67 target price on shares of Graco in a report on Friday, October 27th. Zacks Investment Research downgraded shares of Graco from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. ValuEngine downgraded shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, December 1st. B. Riley reaffirmed a “hold” rating and issued a $46.67 target price on shares of Graco in a report on Wednesday, December 20th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 target price on shares of Graco in a report on Friday, October 27th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Graco has an average rating of “Hold” and an average price target of $47.33.

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About Graco

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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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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