Fmr LLC Raises Stake in Graco Inc. (GGG)

Fmr LLC grew its holdings in Graco Inc. (NYSE:GGG) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,898 shares of the industrial products company’s stock after buying an additional 362 shares during the period. Fmr LLC’s holdings in Graco were worth $205,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new position in Graco in the fourth quarter worth approximately $25,000. JOYN Advisors Inc. increased its holdings in Graco by 222.4% in the fourth quarter. JOYN Advisors Inc. now owns 690 shares of the industrial products company’s stock worth $29,000 after buying an additional 476 shares during the last quarter. Riverview Trust Co acquired a new position in Graco in the fourth quarter worth approximately $49,000. Intercontinental Wealth Advisors LLC acquired a new position in Graco in the fourth quarter worth approximately $61,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in Graco by 4,085.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,782,062 shares of the industrial products company’s stock worth $66,000 after buying an additional 2,715,585 shares during the last quarter. Hedge funds and other institutional investors own 85.68% of the company’s stock.

In other Graco news, VP Angela F. Wordell sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $43.63, for a total transaction of $109,075.00. Following the transaction, the vice president now owns 10,802 shares in the company, valued at $471,291.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy R. White sold 4,800 shares of the stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $43.77, for a total value of $210,096.00. Following the transaction, the insider now owns 48,889 shares in the company, valued at approximately $2,139,871.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 505,548 shares of company stock worth $24,691,722. Corporate insiders own 4.23% of the company’s stock.

Shares of GGG stock opened at $52.30 on Friday. Graco Inc. has a 12 month low of $37.36 and a 12 month high of $53.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.23 and a current ratio of 2.07. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.40 and a beta of 0.97.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). Graco had a net margin of 20.72% and a return on equity of 41.51%. The company had revenue of $404.90 million for the quarter, compared to analyst estimates of $415.70 million. During the same quarter last year, the business earned $0.48 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that Graco Inc. will post 2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, April 12th. This represents a $0.64 annualized dividend and a yield of 1.22%. Graco’s dividend payout ratio (DPR) is presently 34.04%.

A number of research firms recently commented on GGG. Zacks Investment Research downgraded Graco from a “hold” rating to a “sell” rating in a report on Wednesday. Seaport Global Securities restated a “hold” rating on shares of Graco in a report on Wednesday, January 30th. DA Davidson restated a “neutral” rating on shares of Graco in a report on Thursday, April 25th. Royal Bank of Canada restated a “hold” rating and issued a $46.00 price objective on shares of Graco in a report on Wednesday, January 30th. Finally, Jefferies Financial Group began coverage on Graco in a report on Friday, January 25th. They issued a “hold” rating and a $46.00 price objective on the stock. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Graco currently has a consensus rating of “Hold” and an average price target of $46.20.

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Graco Company Profile

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; vapor-abrasive blasting equipment; 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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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