Conestoga Capital Advisors LLC Grows Stock Holdings in Graco Inc. (NYSE:GGG)

Conestoga Capital Advisors LLC raised its stake in Graco Inc. (NYSE:GGG - Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,224 shares of the industrial products company's stock after acquiring an additional 6,105 shares during the period. Conestoga Capital Advisors LLC owned about 0.26% of Graco worth $36,348,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group bought a new position in Graco in the 3rd quarter valued at $30,000. UMB Bank n.a. raised its position in shares of Graco by 187.8% during the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company's stock worth $43,000 after purchasing an additional 323 shares during the period. Eastern Bank bought a new position in shares of Graco during the 3rd quarter valued at about $59,000. MilWealth Group LLC acquired a new position in shares of Graco in the 4th quarter valued at approximately $63,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Graco during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 93.88% of the company's stock.

Insider Activity at Graco

In related news, EVP Kathryn L. Schoenrock sold 1,527 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $90.30, for a total transaction of $137,888.10. Following the completion of the sale, the executive vice president now owns 6,374 shares in the company, valued at approximately $575,572.20. This represents a 19.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Caroline M. Chambers sold 8,280 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total transaction of $749,919.60. Following the completion of the sale, the insider now owns 57,612 shares of the company's stock, valued at approximately $5,217,918.84. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,882 shares of company stock valued at $2,492,145. 2.63% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GGG. Royal Bank of Canada upped their price target on shares of Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Robert W. Baird lowered their target price on Graco from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Finally, BNP Paribas upgraded shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price target for the company in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Graco currently has an average rating of "Hold" and a consensus price target of $91.50.

Graco Stock Performance

GGG traded down $0.35 during trading hours on Thursday, reaching $84.26. The company's stock had a trading volume of 874,155 shares, compared to its average volume of 809,856. The company's 50-day moving average is $85.44 and its 200-day moving average is $84.68. Graco Inc. has a 52 week low of $77.49 and a 52 week high of $94.77. The firm has a market cap of $14.23 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.75 and a beta of 0.84.

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 (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%. Equities analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Monday, January 20th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, January 17th. This is a boost from Graco's previous quarterly dividend of $0.26. Graco's payout ratio is currently 39.01%.

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.