Alecta Pensionsforsakring Omsesidigt boosted its position in shares of Graco Inc. (NYSE:GGG) by 27.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,150,000 shares of the company’s stock after buying an additional 244,200 shares during the period. Graco accounts for approximately 0.8% of Alecta Pensionsforsakring Omsesidigt’s investment portfolio, making the stock its 26th largest position. Alecta Pensionsforsakring Omsesidigt’s holdings in Graco were worth $85,066,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Planning boosted its position in shares of Graco by 4.4% in the third quarter. Creative Planning now owns 1,413 shares of the company’s stock worth $105,000 after buying an additional 59 shares in the last quarter. Quantbot Technologies LP bought a new stake in Graco during the third quarter worth approximately $126,000. Tower Research Capital LLC TRC boosted its stake in Graco by 292.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the company’s stock worth $185,000 after buying an additional 1,741 shares in the last quarter. Fifth Third Bancorp boosted its stake in Graco by 4.6% in the second quarter. Fifth Third Bancorp now owns 2,476 shares of the company’s stock worth $196,000 after buying an additional 110 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Graco by 1.4% in the second quarter. Hsbc Holdings PLC now owns 2,675 shares of the company’s stock worth $211,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.
Shares of Graco Inc. (NYSE:GGG) opened at 86.49 on Thursday. The firm has a 50-day moving average price of $84.00 and a 200-day moving average price of $77.56. Graco Inc. has a 52 week low of $63.24 and a 52 week high of $86.96. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 24.78 and a beta of 1.31.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 19th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.06. Graco had a return on equity of 29.75% and a net margin of 15.20%. The company had revenue of $327.20 million for the quarter, compared to analyst estimates of $331.66 million. During the same period in the prior year, the firm posted $0.86 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts expect that Graco Inc. will post $3.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 17th will be given a $0.36 dividend. This is a positive change from Graco’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 1.66%. The ex-dividend date is Thursday, January 12th. Graco’s dividend payout ratio is presently 41.38%.
A number of analysts recently commented on the company. RBC Capital Markets reiterated a “hold” rating and set a $80.00 price objective on shares of Graco in a research report on Thursday, January 5th. Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating in a research report on Friday, October 21st. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $83.67.
In other Graco news, VP Mark W. Sheahan sold 47,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $79.13, for a total value of $3,719,110.00. Following the transaction, the vice president now directly owns 66,223 shares of the company’s stock, valued at approximately $5,240,225.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William J. Carroll sold 3,600 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $81.37, for a total value of $292,932.00. Following the completion of the transaction, the director now directly owns 25,703 shares in the company, valued at $2,091,453.11. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Contractor, and Lubrication. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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