B. Metzler seel. Sohn & Co. AG increased its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 78.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,016 shares of the industrial products company's stock after purchasing an additional 6,173 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Graco were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in GGG. Disciplined Growth Investors Inc. MN grew its holdings in Graco by 3.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 419,942 shares of the industrial products company's stock valued at $36,749,000 after purchasing an additional 13,876 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Graco by 32.0% in the 4th quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company's stock valued at $130,298,000 after purchasing an additional 374,967 shares during the last quarter. PineStone Asset Management Inc. grew its stake in shares of Graco by 2.7% during the 4th quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company's stock valued at $244,836,000 after buying an additional 76,184 shares during the period. Canoe Financial LP increased its holdings in shares of Graco by 359.2% during the 4th quarter. Canoe Financial LP now owns 640,474 shares of the industrial products company's stock worth $53,986,000 after buying an additional 501,003 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Graco by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company's stock worth $88,923,000 after buying an additional 19,545 shares during the period. Institutional investors and hedge funds own 93.88% of the company's stock.
Wall Street Analyst Weigh In
GGG has been the subject of a number of research analyst reports. BNP Paribas raised shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 target price for the company in a research report on Thursday, December 19th. DA Davidson set a $85.00 price objective on shares of Graco in a research report on Friday, January 31st. Finally, Royal Bank of Canada lifted their target price on shares of Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $93.00.
Check Out Our Latest Stock Analysis on Graco
Graco Trading Up 3.0 %
Graco stock traded up $2.22 during mid-day trading on Tuesday, reaching $76.65. The company's stock had a trading volume of 364,663 shares, compared to its average volume of 847,272. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $93.01. The business has a 50 day moving average price of $84.39 and a 200-day moving average price of $85.50. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.85 and a beta of 0.92.
Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share 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%. On average, equities analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.
Graco Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, April 14th. Graco's payout ratio is 39.01%.
Graco Company Profile
(
Free Report)
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.
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