Andra AP fonden Acquires 83,100 Shares of Graco Inc. $GGG

Andra AP fonden boosted its holdings in shares of Graco Inc. (NYSE:GGG) by 109.3% in the third quarter, Holdings Channel.com reports. The fund owned 159,100 shares of the industrial products company’s stock after buying an additional 83,100 shares during the quarter. Andra AP fonden’s holdings in Graco were worth $13,517,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Stonebridge Capital Advisors LLC grew its stake in shares of Graco by 0.3% during the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after purchasing an additional 119 shares during the period. Fifth Third Bancorp boosted its holdings in Graco by 7.7% during the third quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock worth $149,000 after buying an additional 125 shares during the last quarter. ICW Investment Advisors LLC grew its position in shares of Graco by 4.6% during the 3rd quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock worth $242,000 after buying an additional 126 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Graco by 7.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 135 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Graco by 42.6% in the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Up 0.9%

Shares of GGG opened at $93.81 on Friday. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $95.69. The stock has a market capitalization of $15.51 billion, a P/E ratio of 30.36, a P/E/G ratio of 2.92 and a beta of 1.08. The company has a 50 day moving average of $88.30 and a 200-day moving average of $85.08.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. The business had revenue of $593.16 million for the quarter, compared to analyst estimates of $591.99 million. Graco had a net margin of 23.33% and a return on equity of 19.49%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.18 annualized dividend and a yield of 1.3%. Graco’s payout ratio is 38.19%.

Graco announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on GGG. DA Davidson restated a “neutral” rating and set a $85.00 price objective on shares of Graco in a report on Monday, February 2nd. Weiss Ratings raised shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Royal Bank Of Canada boosted their price target on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Jefferies Financial Group raised their price objective on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Robert W. Baird set a $96.00 target price on Graco in a report on Wednesday, January 28th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.50.

Insider Buying and Selling at Graco

In other news, insider Timothy R. White sold 1,469 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $90.70, for a total value of $133,238.30. Following the completion of the transaction, the insider owned 51,430 shares in the company, valued at $4,664,701. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of Graco stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $88.06, for a total value of $195,757.38. Following the completion of the sale, the executive vice president directly owned 7,846 shares in the company, valued at approximately $690,918.76. This represents a 22.08% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,394 shares of company stock valued at $1,739,326. Corporate insiders own 2.19% of the company’s stock.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.