Schroder Investment Management Group raised its holdings in Graco Inc. (NYSE:GGG) by 9.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 823,661 shares of the industrial products company’s stock after buying an additional 73,645 shares during the period. Schroder Investment Management Group owned about 0.49% of Graco worth $37,090,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in GGG. Hsbc Holdings PLC raised its stake in Graco by 34.9% in the first quarter. Hsbc Holdings PLC now owns 20,061 shares of the industrial products company’s stock valued at $919,000 after buying an additional 5,188 shares during the period. Stifel Financial Corp increased its stake in shares of Graco by 12.1% during the first quarter. Stifel Financial Corp now owns 104,631 shares of the industrial products company’s stock worth $4,782,000 after purchasing an additional 11,302 shares during the period. Quantum Capital Management LLC NJ increased its stake in shares of Graco by 35.7% during the first quarter. Quantum Capital Management LLC NJ now owns 294,144 shares of the industrial products company’s stock worth $13,448,000 after purchasing an additional 77,358 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Graco by 61.1% during the first quarter. Asset Management One Co. Ltd. now owns 117,468 shares of the industrial products company’s stock worth $5,371,000 after purchasing an additional 44,547 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Graco by 3.8% during the first quarter. Principal Financial Group Inc. now owns 748,219 shares of the industrial products company’s stock worth $34,208,000 after purchasing an additional 27,359 shares during the period. Hedge funds and other institutional investors own 85.68% of the company’s stock.
A number of brokerages have recently weighed in on GGG. Oppenheimer reiterated a “hold” rating on shares of Graco in a research note on Thursday, July 26th. Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. ValuEngine lowered Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. DA Davidson set a $49.00 target price on Graco and gave the stock a “hold” rating in a research note on Monday, August 20th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $49.00 target price on shares of Graco in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $49.17.
In related news, Director Jack W. Eugster sold 32,297 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $46.66, for a total transaction of $1,506,978.02. Following the sale, the director now owns 103,251 shares of the company’s stock, valued at $4,817,691.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Caroline M. Chambers sold 97,500 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $47.10, for a total value of $4,592,250.00. Following the sale, the insider now directly owns 119,092 shares in the company, valued at approximately $5,609,233.20. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.
Shares of NYSE GGG opened at $40.67 on Thursday. The company has a market cap of $7.75 billion, a PE ratio of 28.44, a PEG ratio of 2.91 and a beta of 1.09. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 2.65. Graco Inc. has a 1-year low of $40.22 and a 1-year high of $49.69.
Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 25th. The industrial products company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.02). The firm had revenue of $424.60 million for the quarter, compared to the consensus estimate of $421.19 million. Graco had a return on equity of 40.67% and a net margin of 18.07%. Graco’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $1.38 EPS. Equities research analysts predict that Graco Inc. will post 1.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Monday, October 22nd will be given a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Friday, October 19th. Graco’s dividend payout ratio is currently 37.06%.
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. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.
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