Citigroup Inc. lowered its stake in Graco Inc. (NYSE:GGG) by 28.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,007 shares of the industrial products company’s stock after selling 11,056 shares during the quarter. Citigroup Inc.’s holdings in Graco were worth $1,173,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of GGG. Riverview Trust Co bought a new position in Graco in the 4th quarter valued at approximately $49,000. Intercontinental Wealth Advisors LLC bought a new position in Graco in the 4th quarter valued at approximately $61,000. Oregon Public Employees Retirement Fund raised its holdings in Graco by 4,085.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,782,062 shares of the industrial products company’s stock valued at $66,000 after buying an additional 2,715,585 shares during the last quarter. Moody National Bank Trust Division bought a new position in Graco in the 4th quarter valued at approximately $73,000. Finally, First Hawaiian Bank raised its holdings in Graco by 633.2% in the 4th quarter. First Hawaiian Bank now owns 1,789 shares of the industrial products company’s stock valued at $75,000 after buying an additional 1,545 shares during the last quarter. 84.39% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE GGG opened at $47.53 on Friday. The company has a market capitalization of $7.96 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 2.45 and a beta of 0.97. Graco Inc. has a 1 year low of $37.36 and a 1 year high of $48.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.47.
Graco (NYSE:GGG) last released its quarterly earnings results on Monday, January 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. Graco had a net margin of 20.63% and a return on equity of 43.67%. The firm had revenue of $406.40 million during the quarter, compared to analyst estimates of $404.14 million. During the same quarter last year, the business earned $0.34 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Analysts forecast that Graco Inc. will post 2.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.64 annualized dividend and a yield of 1.35%. Graco’s payout ratio is 34.04%.
In other Graco news, VP Angela F. Wordell sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $43.63, for a total transaction of $109,075.00. Following the completion of the transaction, the vice president now owns 10,802 shares in the company, valued at approximately $471,291.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dale D. Johnson sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $47.85, for a total transaction of $4,306,500.00. Following the transaction, the insider now owns 302,873 shares of the company’s stock, valued at approximately $14,492,473.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 295,038 shares of company stock valued at $13,952,569. Company insiders own 5.10% of the company’s stock.
A number of research analysts recently issued reports on GGG shares. ValuEngine upgraded shares of Graco from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Royal Bank of Canada reiterated a “hold” rating and issued a $45.00 price objective on shares of Graco in a report on Wednesday, December 19th. Zacks Investment Research lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, February 1st. Jefferies Financial Group started coverage on shares of Graco in a report on Friday, January 25th. They issued a “hold” rating and a $46.00 price objective for the company. Finally, Seaport Global Securities reiterated a “hold” rating on shares of Graco in a report on Wednesday, January 30th. Eight analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $46.20.
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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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