Graco Inc. (NYSE:GGG) Shares Sold by Andra AP fonden

Andra AP fonden lowered its holdings in Graco Inc. (NYSE:GGG - Free Report) by 37.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 66,000 shares of the industrial products company's stock after selling 39,100 shares during the quarter. Andra AP fonden's holdings in Graco were worth $5,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GGG. Farther Finance Advisors LLC raised its holdings in Graco by 293.1% during the third quarter. Farther Finance Advisors LLC now owns 3,801 shares of the industrial products company's stock worth $333,000 after purchasing an additional 2,834 shares in the last quarter. Van ECK Associates Corp raised its stake in Graco by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 33,862 shares of the industrial products company's stock worth $2,807,000 after acquiring an additional 3,358 shares in the last quarter. QRG Capital Management Inc. lifted its position in Graco by 12.8% in the third quarter. QRG Capital Management Inc. now owns 16,363 shares of the industrial products company's stock valued at $1,432,000 after acquiring an additional 1,856 shares during the last quarter. Leavell Investment Management Inc. lifted its position in Graco by 0.9% in the third quarter. Leavell Investment Management Inc. now owns 16,602 shares of the industrial products company's stock valued at $1,453,000 after acquiring an additional 143 shares during the last quarter. Finally, Equitable Trust Co. boosted its stake in Graco by 2.3% in the third quarter. Equitable Trust Co. now owns 6,664 shares of the industrial products company's stock valued at $583,000 after acquiring an additional 147 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company's stock.

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Graco Stock Down 1.1 %

GGG stock traded down $0.97 during trading on Wednesday, hitting $83.85. The company had a trading volume of 598,887 shares, compared to its average volume of 824,021. The firm has a 50-day moving average price of $84.90 and a 200-day moving average price of $85.47. The firm has a market cap of $14.21 billion, a PE ratio of 29.73, 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 $94.77.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share (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%. Sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Monday, April 14th. Graco's dividend payout ratio (DPR) is presently 39.01%.

Wall Street Analysts Forecast Growth

GGG has been the subject of several research reports. BNP Paribas raised Graco from a "neutral" rating to an "outperform" rating and set a $105.00 target price for the company in a report on Thursday, December 19th. DA Davidson set a $85.00 price objective on Graco in a research note on Friday, January 31st. Finally, Royal Bank of Canada raised their target price on shares of Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.