Korea Investment CORP Buys 94,700 Shares of Graco Inc. (NYSE:GGG)

Korea Investment CORP lifted its stake in Graco Inc. (NYSE:GGG - Free Report) by 270.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,700 shares of the industrial products company's stock after acquiring an additional 94,700 shares during the quarter. Korea Investment CORP owned approximately 0.08% of Graco worth $10,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Graco during the fourth quarter valued at about $25,000. Brooklyn Investment Group bought a new position in Graco in the 3rd quarter valued at $30,000. TD Private Client Wealth LLC boosted its stake in shares of Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 190 shares during the last quarter. National Pension Service acquired a new stake in shares of Graco during the fourth quarter worth $34,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Graco in the 4th quarter valued at $37,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Stock Performance

NYSE:GGG traded down $4.52 on Friday, hitting $75.70. The stock had a trading volume of 2,023,298 shares, compared to its average volume of 788,100. Graco Inc. has a 1 year low of $75.66 and a 1 year high of $93.01. The firm's fifty day simple moving average is $84.62 and its two-hundred day simple moving average is $85.56. The stock has a market cap of $12.73 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83.

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Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data 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%. Equities research analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, April 14th. Graco's payout ratio is 39.01%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BNP Paribas upgraded shares of 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. Royal Bank of Canada lifted 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, DA Davidson set a $85.00 price objective on shares of Graco in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $93.00.

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.