Meeder Asset Management Inc. decreased its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 83.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,366 shares of the industrial products company's stock after selling 47,030 shares during the period. Meeder Asset Management Inc.'s holdings in Graco were worth $789,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in GGG. Institute for Wealth Management LLC. increased its holdings in shares of Graco by 2.5% in the fourth quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company's stock worth $410,000 after purchasing an additional 119 shares during the period. Albert D Mason Inc. increased its stake in Graco by 0.4% in the 4th quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company's stock worth $2,354,000 after acquiring an additional 121 shares during the last quarter. Optas LLC raised its holdings 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 acquiring an additional 128 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Graco by 39.1% during the 4th quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 136 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of Graco by 1.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company's stock worth $1,226,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 93.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. DA Davidson set a $85.00 target price on shares of Graco in a research note on Friday, January 31st. BNP Paribas raised shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price objective for the company in a report on Thursday, December 19th. Finally, Royal Bank of Canada increased their target price on Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $93.00.
Read Our Latest Stock Report on GGG
Graco Stock Down 5.6 %
Shares of Graco stock traded down $4.52 during trading on Friday, reaching $75.70. 2,023,298 shares of the stock were exchanged, compared to its average volume of 787,133. Graco Inc. has a 1 year low of $75.64 and a 1 year high of $93.01. The firm has a market cap of $12.73 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. The stock's fifty day moving average is $84.62 and its 200 day moving average is $85.57.
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 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%. Equities analysts forecast that Graco Inc. will post 3.06 earnings per share for the current year.
Graco Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders 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 1.45%. Graco's dividend payout ratio (DPR) is presently 39.01%.
Graco Company Profile
(
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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