Russell Investments Group Ltd. raised its stake in shares of Graco Inc. (NYSE:GGG) by 22.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 650,753 shares of the industrial products company’s stock after buying an additional 120,916 shares during the period. Russell Investments Group Ltd. owned about 1.17% of Graco worth $71,160,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in GGG. Creative Planning boosted 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 valued at $141,000 after buying an additional 76 shares during the last quarter. Mosaic Family Wealth LLC boosted its stake in shares of Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock valued at $168,000 after buying an additional 62 shares during the last quarter. TLP Group LLC purchased a new stake in shares of Graco during the first quarter valued at approximately $193,000. Canada Pension Plan Investment Board boosted its stake in shares of Graco by 425.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock valued at $198,000 after buying an additional 1,700 shares during the last quarter. Finally, Park National Corp OH purchased a new stake in shares of Graco during the first quarter valued at approximately $203,000. 90.10% of the stock is currently owned by institutional investors.
Shares of Graco Inc. (NYSE GGG) opened at 115.58 on Thursday. Graco Inc. has a one year low of $69.33 and a one year high of $116.75. The stock’s 50 day moving average price is $111.12 and its 200 day moving average price is $103.01. The company has a market cap of $6.47 billion, a PE ratio of 73.34 and a beta of 1.25.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The firm had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. Equities analysts predict that Graco Inc. will post $4.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.44 annualized dividend and a yield of 1.25%. Graco’s dividend payout ratio is presently 92.90%.
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GGG has been the subject of several analyst reports. Royal Bank Of Canada restated a “hold” rating and issued a $104.00 target price on shares of Graco in a report on Friday, April 28th. TheStreet upgraded Graco from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Deutsche Bank AG restated a “hold” rating and issued a $110.00 target price (up from $105.00) on shares of Graco in a report on Monday, June 5th. BidaskClub lowered Graco from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Graco has a consensus rating of “Hold” and an average target price of $106.20.
In other news, Director Eric Etchart sold 793 shares of Graco stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $113.90, for a total value of $90,322.70. Following the transaction, the director now owns 11,224 shares in the company, valued at approximately $1,278,413.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jeffrey P. Johnson sold 28,000 shares of Graco stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $113.00, for a total value of $3,164,000.00. Following the completion of the transaction, the vice president now owns 42,213 shares in the company, valued at approximately $4,770,069. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,021 shares of company stock worth $6,483,384. Corporate insiders own 5.70% of the company’s stock.
Graco Company Profile
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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