Proficio Capital Partners LLC Invests $3.89 Million in Graco Inc. (NYSE:GGG)

Proficio Capital Partners LLC bought a new position in Graco Inc. (NYSE:GGG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 46,115 shares of the industrial products company's stock, valued at approximately $3,887,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. M&T Bank Corp raised its holdings in shares of Graco by 14.0% in the fourth quarter. M&T Bank Corp now owns 63,879 shares of the industrial products company's stock valued at $5,384,000 after acquiring an additional 7,832 shares in the last quarter. Atria Investments Inc boosted its position in Graco by 6.5% in the 4th quarter. Atria Investments Inc now owns 19,229 shares of the industrial products company's stock worth $1,621,000 after purchasing an additional 1,176 shares in the last quarter. Assetmark Inc. boosted its position in Graco by 11.4% in the 4th quarter. Assetmark Inc. now owns 18,605 shares of the industrial products company's stock worth $1,568,000 after purchasing an additional 1,905 shares in the last quarter. Keybank National Association OH purchased a new stake in Graco in the 4th quarter worth approximately $222,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Graco by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company's stock worth $88,923,000 after purchasing an additional 19,545 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company's stock.

Analyst Upgrades and Downgrades

GGG has been the subject of several research analyst reports. Royal Bank of Canada upped their target price on Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. BNP Paribas raised Graco from a "neutral" rating to an "outperform" rating and set a $105.00 target price for the company in a research note on Thursday, December 19th. Finally, DA Davidson set a $85.00 target price on Graco in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $93.00.

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Graco Trading Down 1.4 %

NYSE:GGG traded down $1.15 during trading hours on Friday, hitting $82.13. The company had a trading volume of 2,281,852 shares, compared to its average volume of 735,301. The company has a 50-day moving average of $84.97 and a 200 day moving average of $85.49. The company has a market cap of $13.81 billion, a P/E ratio of 29.12, a P/E/G ratio of 2.85 and a beta of 0.83. Graco Inc. has a 1 year low of $77.49 and a 1 year high of $94.77.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results 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 net margin of 23.00% and a return on equity of 19.38%. On average, analysts forecast that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The firm 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 dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Monday, April 14th. Graco's dividend payout ratio is presently 39.01%.

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.