Elo Mutual Pension Insurance Co boosted its holdings in Graco Inc. (NYSE:GGG - Free Report) by 24.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,739 shares of the industrial products company's stock after purchasing an additional 3,716 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Graco were worth $1,580,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Institute for Wealth Management LLC. boosted its stake in shares of Graco by 2.5% during the fourth quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company's stock valued at $410,000 after purchasing an additional 119 shares in the last quarter. Albert D Mason Inc. boosted its holdings in Graco by 0.4% during the fourth quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company's stock worth $2,354,000 after buying an additional 121 shares in the last quarter. Optas LLC increased its stake in shares of Graco by 4.0% in the 4th quarter. Optas LLC now owns 3,360 shares of the industrial products company's stock valued at $283,000 after purchasing an additional 128 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Graco by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock valued at $41,000 after buying an additional 136 shares in the last quarter. Finally, IFP Advisors Inc raised its position in Graco by 6.1% during the fourth quarter. IFP Advisors Inc now owns 2,782 shares of the industrial products company's stock worth $235,000 after acquiring an additional 160 shares during the period. Institutional investors own 93.88% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on GGG. Royal Bank of Canada raised their target price on Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. 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 report on Thursday, December 19th. Finally, DA Davidson set a $85.00 target price on shares of Graco in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $93.00.
Read Our Latest Stock Analysis on GGG
Graco Price Performance
Shares of GGG stock traded down $4.01 during mid-day trading on Thursday, hitting $80.63. The stock had a trading volume of 138,972 shares, compared to its average volume of 810,721. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $93.01. The company's 50-day simple moving average is $84.94 and its 200-day simple moving average is $85.66. The firm has a market cap of $13.56 billion, a PE ratio of 28.59, a PEG ratio of 2.85 and a beta of 0.83.
Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 EPS 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, analysts expect that Graco Inc. will post 3.06 EPS for the current year.
Graco Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be issued a $0.275 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.10 annualized dividend and a yield of 1.36%. Graco's payout ratio is 39.01%.
Graco Profile
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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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