Rhumbline Advisers Grows Holdings in Graco Inc. (NYSE:GGG)

Rhumbline Advisers lifted its stake in shares of Graco Inc. (NYSE:GGGGet Rating) by 9.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 511,873 shares of the industrial products company’s stock after purchasing an additional 43,412 shares during the quarter. Rhumbline Advisers owned about 0.30% of Graco worth $30,410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GGG. BlackRock Inc. lifted its holdings in Graco by 1.1% in the 1st quarter. BlackRock Inc. now owns 14,264,829 shares of the industrial products company’s stock valued at $994,543,000 after purchasing an additional 156,441 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of Graco by 2.0% during the 2nd quarter. Fiera Capital Corp now owns 10,106,956 shares of the industrial products company’s stock worth $600,455,000 after acquiring an additional 202,136 shares during the period. State Street Corp lifted its holdings in shares of Graco by 5.9% during the 1st quarter. State Street Corp now owns 6,002,722 shares of the industrial products company’s stock worth $418,510,000 after acquiring an additional 331,804 shares during the period. WCM Investment Management LLC lifted its holdings in shares of Graco by 1.4% during the 1st quarter. WCM Investment Management LLC now owns 5,577,871 shares of the industrial products company’s stock worth $388,889,000 after acquiring an additional 78,608 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Graco by 2.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 2,800,652 shares of the industrial products company’s stock worth $195,261,000 after acquiring an additional 57,926 shares during the period. 86.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GGG. DA Davidson cut their price target on shares of Graco to $70.00 in a report on Tuesday, August 9th. StockNews.com downgraded shares of Graco from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Finally, Royal Bank of Canada raised their price target on shares of Graco from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Monday, November 14th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $69.50.

Graco Stock Down 0.1 %

Shares of Graco stock opened at $70.08 on Thursday. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 3.38 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.99 and a quick ratio of 1.91. Graco Inc. has a 52-week low of $56.48 and a 52-week high of $81.09. The stock has a 50-day simple moving average of $64.88 and a 200-day simple moving average of $63.63.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 2nd. Stockholders of record on Monday, October 17th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.20%. Graco’s dividend payout ratio is 32.06%.

Insider Activity

In related news, VP Angela F. Wordell sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $70.37, for a total value of $189,999.00. Following the completion of the sale, the vice president now directly owns 12,372 shares in the company, valued at approximately $870,617.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Caroline M. Chambers sold 19,041 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $69.95, for a total value of $1,331,917.95. Following the completion of the sale, the insider now directly owns 48,599 shares in the company, valued at approximately $3,399,500.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Angela F. Wordell sold 2,700 shares of Graco stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $70.37, for a total value of $189,999.00. Following the completion of the transaction, the vice president now directly owns 12,372 shares in the company, valued at $870,617.64. The disclosure for this sale can be found here. 3.52% of the stock is owned by corporate insiders.

Graco Profile

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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 worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; 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, and precision dispensing solutions.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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