Allstate Corp Acquires Shares of 4,867 Graco Inc. (NYSE:GGG)

Allstate Corp purchased a new stake in shares of Graco Inc. (NYSE:GGG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,867 shares of the industrial products company's stock, valued at approximately $410,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Institute for Wealth Management LLC. boosted its stake in Graco by 2.5% during the 4th quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company's stock valued at $410,000 after purchasing an additional 119 shares in the last quarter. Albert D Mason Inc. boosted its stake in Graco by 0.4% during the fourth quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company's stock valued at $2,354,000 after buying an additional 121 shares in the last quarter. Optas LLC boosted its stake in Graco by 4.0% during the fourth quarter. Optas LLC now owns 3,360 shares of the industrial products company's stock valued at $283,000 after buying an additional 128 shares in the last quarter. Brooklyn Investment Group grew its holdings in Graco by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock worth $41,000 after acquiring an additional 136 shares during the period. Finally, Orion Portfolio Solutions LLC raised its position in Graco by 1.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company's stock worth $1,226,000 after acquiring an additional 138 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

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Graco Stock Down 1.8 %

Shares of GGG stock traded down $1.36 during trading hours on Monday, reaching $74.41. 1,687,213 shares of the stock traded hands, compared to its average volume of 791,530. The firm has a market capitalization of $12.51 billion, a PE ratio of 26.39, a PEG ratio of 2.85 and a beta of 0.92. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $93.01. The business has a fifty day moving average price of $84.39 and a 200 day moving average price of $85.50.

Graco (NYSE:GGG - Get Free Report) last announced its earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. Research analysts expect that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Monday, April 14th. Graco's dividend payout ratio is currently 39.01%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GGG. DA Davidson set a $85.00 price objective on shares of Graco in a research note on Friday, January 31st. BNP Paribas raised Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price target on the stock in a report on Thursday, December 19th. Finally, Royal Bank of Canada raised their price objective on Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research note 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $93.00.

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 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.