Goldman Sachs Group Inc. increased its position in shares of Graco Inc. (NYSE:GGG) by 59.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 652,883 shares of the industrial products company’s stock after buying an additional 244,321 shares during the period. Goldman Sachs Group Inc. owned about 1.18% of Graco worth $61,463,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Graco during the fourth quarter worth about $34,615,000. Thrivent Financial for Lutherans increased its stake in shares of Graco by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,520 shares of the industrial products company’s stock worth $791,000 after buying an additional 810 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Graco by 126.5% in the first quarter. Conestoga Capital Advisors LLC now owns 22,248 shares of the industrial products company’s stock worth $2,094,000 after buying an additional 12,425 shares in the last quarter. Creative Planning increased its stake in shares of Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock worth $141,000 after buying an additional 76 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Graco by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 346,915 shares of the industrial products company’s stock worth $28,826,000 after buying an additional 18,120 shares in the last quarter. Institutional investors own 90.68% of the company’s stock.
Graco Inc. (NYSE:GGG) traded down 1.48% during mid-day trading on Friday, hitting $113.68. 592,522 shares of the stock were exchanged. The stock’s 50 day moving average is $110.07 and its 200 day moving average is $100.22. The stock has a market cap of $6.32 billion, a PE ratio of 106.04 and a beta of 1.24. Graco Inc. has a 52-week low of $69.33 and a 52-week high of $116.20.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.32. The business had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. Graco had a net margin of 4.53% and a return on equity of 35.25%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. Analysts forecast that Graco Inc. will post $4.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, July 13th. Graco’s dividend payout ratio (DPR) is 92.90%.
GGG has been the topic of a number of research reports. TheStreet upgraded shares of Graco from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Wednesday, April 5th. Deutsche Bank AG reiterated a “hold” rating and issued a $110.00 price target (up from $105.00) on shares of Graco in a report on Monday, June 5th. BidaskClub downgraded shares of Graco from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, FBR & Co reiterated a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $101.80.
In related news, Director William J. Carroll sold 8,600 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $107.96, for a total transaction of $928,456.00. Following the completion of the sale, the director now directly owns 30,703 shares in the company, valued at $3,314,695.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the sale, the vice president now owns 27,264 shares of the company’s stock, valued at $3,135,360. The disclosure for this sale can be found here. Insiders sold 228,536 shares of company stock valued at $17,336,317 over the last quarter. Company insiders own 5.70% of the company’s stock.
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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