Oddo BHF Asset Management Sas Takes Position in Graco Inc. (NYSE:GGG)

Oddo BHF Asset Management Sas purchased a new position in shares of Graco Inc. (NYSE:GGG - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,485 shares of the industrial products company's stock, valued at approximately $2,668,000.

A number of other institutional investors have also modified their holdings of GGG. Gradient Investments LLC purchased a new position in shares of Graco during the 2nd quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in shares of Graco during the 3rd quarter worth approximately $30,000. UMB Bank n.a. grew its holdings in shares of Graco by 187.8% in the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company's stock worth $43,000 after acquiring an additional 323 shares during the period. Eastern Bank purchased a new position in Graco in the 3rd quarter valued at approximately $59,000. Finally, Blue Trust Inc. raised its holdings in Graco by 220.9% during the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company's stock worth $55,000 after purchasing an additional 475 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Graco

In related news, insider Caroline M. Chambers sold 8,280 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total transaction of $749,919.60. Following the completion of the sale, the insider now owns 57,612 shares of the company's stock, valued at approximately $5,217,918.84. This represents a 12.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter J. O'shea sold 18,075 shares of Graco stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $88.76, for a total transaction of $1,604,337.00. Following the transaction, the insider now directly owns 14,516 shares in the company, valued at approximately $1,288,440.16. This trade represents a 55.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,098 shares of company stock worth $2,776,150 over the last quarter. 2.63% of the stock is currently owned by insiders.

Graco Stock Down 0.8 %

Shares of GGG traded down $0.72 during trading hours on Friday, reaching $87.93. 400,024 shares of the company traded hands, compared to its average volume of 744,346. The stock has a fifty day simple moving average of $87.21 and a 200 day simple moving average of $83.49. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $94.77. The stock has a market capitalization of $14.85 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 3.11 and a beta of 0.83.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.05). The firm had revenue of $519.21 million for the quarter, compared to analysts' expectations of $538.19 million. Graco had a return on equity of 21.24% and a net margin of 22.87%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. Research analysts predict that Graco Inc. will post 2.89 EPS for the current fiscal year.

Graco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Monday, January 20th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from Graco's previous quarterly dividend of $0.26. Graco's dividend payout ratio is currently 36.04%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GGG shares. DA Davidson restated a "neutral" rating and issued a $79.00 price target on shares of Graco in a research report on Friday, September 27th. Robert W. Baird dropped their target price on shares of Graco from $88.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada reduced their price target on shares of Graco from $96.00 to $93.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $89.25.

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.