UniSuper Management Pty Ltd Decreases Stock Holdings in Graco Inc. (NYSE:GGG)

UniSuper Management Pty Ltd cut its stake in Graco Inc. (NYSE:GGG) by 22.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,200 shares of the industrial products company’s stock after selling 900 shares during the period. UniSuper Management Pty Ltd’s holdings in Graco were worth $270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cerity Partners LLC increased its stake in Graco by 93.5% in the 3rd quarter. Cerity Partners LLC now owns 13,380 shares of the industrial products company’s stock valued at $1,171,000 after purchasing an additional 6,464 shares in the last quarter. FMR LLC increased its position in shares of Graco by 33.7% in the third quarter. FMR LLC now owns 32,418 shares of the industrial products company’s stock valued at $2,837,000 after buying an additional 8,166 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Graco during the 3rd quarter worth $299,000. Glenmede Trust Co. NA raised its stake in shares of Graco by 5.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,561 shares of the industrial products company’s stock worth $924,000 after buying an additional 543 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Graco by 4.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,111,152 shares of the industrial products company’s stock worth $97,237,000 after buying an additional 43,923 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Stock Performance

Shares of NYSE GGG opened at $83.55 on Tuesday. The firm has a market cap of $14.05 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. Graco Inc. has a 1 year low of $77.49 and a 1 year high of $93.25. The firm’s 50 day moving average price is $84.99 and its 200 day moving average price is $85.65.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. As a group, equities analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be given a $0.275 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.32%. Graco’s dividend payout ratio is presently 39.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GGG. BNP Paribas upgraded shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 target price for the company in a research report on Thursday, December 19th. DA Davidson set a $85.00 price objective on Graco in a research report on Friday, January 31st. Finally, Royal Bank of Canada increased their target price on Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $93.00.

Graco Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.