Proficio Capital Partners LLC purchased a new stake in shares of Graco Inc. (NYSE:GGG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 46,115 shares of the industrial products company's stock, valued at approximately $3,887,000.
A number of other hedge funds have also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN increased its holdings in Graco by 3.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 419,942 shares of the industrial products company's stock worth $36,749,000 after purchasing an additional 13,876 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Graco by 254.8% during the third quarter. Natixis Advisors LLC now owns 195,533 shares of the industrial products company's stock valued at $17,111,000 after buying an additional 140,417 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Graco by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 328,306 shares of the industrial products company's stock worth $28,730,000 after purchasing an additional 8,485 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Graco by 32.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company's stock worth $130,298,000 after purchasing an additional 374,967 shares during the last quarter. Finally, PineStone Asset Management Inc. raised its stake in shares of Graco by 2.7% in the fourth quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company's stock valued at $244,836,000 after buying an additional 76,184 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have issued reports on the company. DA Davidson set a $85.00 target price on Graco in a research note on Friday, January 31st. Royal Bank of Canada boosted their price objective on Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Finally, BNP Paribas upgraded Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $93.00.
Check Out Our Latest Research Report on GGG
Graco Trading Up 1.4 %
Shares of GGG traded up $1.24 during midday trading on Friday, reaching $87.60. The stock had a trading volume of 944,537 shares, compared to its average volume of 825,903. The company's 50-day moving average is $84.76 and its 200 day moving average is $85.31. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $94.77. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83.
Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share (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%. Research analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.
Graco Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Monday, April 14th. Graco's payout ratio is 39.01%.
About Graco
(
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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