Cinctive Capital Management LP Invests $886,000 in Graco Inc. (NYSE:GGG)

Cinctive Capital Management LP purchased a new stake in shares of Graco Inc. (NYSE:GGG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 10,129 shares of the industrial products company's stock, valued at approximately $886,000.

Other large investors have also added to or reduced their stakes in the company. Gradient Investments LLC purchased a new stake in shares of Graco during the second quarter worth about $27,000. Brooklyn Investment Group purchased a new stake in Graco in the 3rd quarter worth approximately $30,000. UMB Bank n.a. grew its position 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 buying an additional 323 shares during the last quarter. Eastern Bank bought a new position in shares of Graco during the third quarter valued at approximately $59,000. Finally, Blue Trust Inc. lifted its stake in Graco by 220.9% in the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company's stock worth $55,000 after acquiring an additional 475 shares during the period. Institutional investors own 93.88% of the company's stock.

Insider Transactions at Graco

In other Graco news, EVP Kathryn L. Schoenrock sold 1,527 shares of Graco stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $90.30, for a total value of $137,888.10. Following the transaction, the executive vice president now owns 6,374 shares in the company, valued at $575,572.20. The trade was a 19.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Caroline M. Chambers sold 8,280 shares of Graco stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total value of $749,919.60. Following the completion of the transaction, the insider now owns 57,612 shares in the company, valued at $5,217,918.84. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,098 shares of company stock worth $2,776,150. 2.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GGG. Robert W. Baird reduced their price objective on shares of Graco from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. DA Davidson reissued a "neutral" rating and set a $79.00 price objective on shares of Graco in a research report on Friday, September 27th. Finally, Royal Bank of Canada reduced their price objective on shares of Graco from $96.00 to $93.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $89.25.

Graco Trading Down 0.7 %

Graco stock traded down $0.64 during midday trading on Wednesday, hitting $90.37. The stock had a trading volume of 697,119 shares, compared to its average volume of 749,023. The firm's fifty day moving average is $86.73 and its two-hundred day moving average is $83.11. The company has a market capitalization of $15.26 billion, a PE ratio of 32.12, a P/E/G ratio of 3.14 and a beta of 0.83. Graco Inc. has a 52-week low of $77.49 and a 52-week high of $94.77.

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

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.02 annualized dividend and a dividend yield of 1.13%. Graco's dividend payout ratio (DPR) is 36.04%.

About Graco

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.