Amundi Has $137.97 Million Stock Position in Graco Inc. (NYSE:GGG)

Amundi reduced its position in Graco Inc. (NYSE:GGG - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,676,602 shares of the industrial products company's stock after selling 89,972 shares during the period. Amundi owned about 0.99% of Graco worth $137,968,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in Graco in the 4th quarter worth about $25,000. Brooklyn Investment Group acquired a new position in Graco in the 3rd quarter worth about $30,000. National Pension Service acquired a new position in Graco in the 4th quarter worth about $34,000. Whipplewood Advisors LLC acquired a new position in shares of Graco during the 4th quarter valued at about $37,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Graco during the 4th quarter valued at about $61,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GGG shares. DA Davidson set a $85.00 price objective on Graco in a report on Friday, January 31st. Royal Bank of Canada increased their price objective on Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Finally, BNP Paribas raised Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price objective on the stock in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $93.00.

Remove Ads

Graco Trading Down 2.2 %

NYSE:GGG traded down $1.94 during mid-day trading on Tuesday, hitting $84.85. 721,338 shares of the company's stock traded hands, compared to its average volume of 828,638. The firm has a 50 day moving average of $84.90 and a two-hundred day moving average of $85.47. Graco Inc. has a 12 month low of $77.49 and a 12 month high of $94.77. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. As a group, equities research analysts expect 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. Investors of record on Monday, April 14th will be given a dividend of $0.275 per share. The ex-dividend date is Monday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.30%. Graco's dividend payout ratio (DPR) is presently 39.01%.

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.