Bryce Point Capital LLC Takes Position in Graco Inc. (NYSE:GGG)

Bryce Point Capital LLC bought a new stake in Graco Inc. (NYSE:GGG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,375 shares of the industrial products company's stock, valued at approximately $1,296,000.

A number of other hedge funds have also made changes to their positions in the company. Disciplined Growth Investors Inc. MN increased its holdings in Graco by 3.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 419,942 shares of the industrial products company's stock valued at $36,749,000 after acquiring an additional 13,876 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Graco by 32.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company's stock worth $130,298,000 after purchasing an additional 374,967 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in Graco by 2.7% in 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 in the last quarter. Canoe Financial LP increased its position in Graco by 359.2% during the fourth 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Graco by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company's stock valued at $88,923,000 after acquiring an additional 19,545 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have issued reports on GGG. DA Davidson set a $85.00 target price on shares of Graco in a report on Friday, January 31st. Royal Bank of Canada upped their target price on Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Finally, BNP Paribas upgraded Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price target for the company in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $93.00.

Graco Price Performance

GGG stock traded up $2.36 during trading on Tuesday, reaching $76.79. 473,204 shares of the stock traded hands, compared to its average volume of 790,380. The firm has a market capitalization of $12.91 billion, a PE ratio of 27.24, a P/E/G ratio of 2.85 and a beta of 0.92. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $93.01. The business's 50 day moving average price is $84.39 and its 200-day moving average price is $85.50.

Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings data 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 return on equity of 19.38% and a net margin of 23.00%. On average, equities research analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, April 14th. Graco's payout ratio is 39.01%.

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.