AXQ Capital LP Acquires Shares of 10,739 Graco Inc. $GGG

AXQ Capital LP acquired a new stake in Graco Inc. (NYSE:GGG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,739 shares of the industrial products company’s stock, valued at approximately $880,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GGG. Norges Bank bought a new stake in Graco during the fourth quarter valued at about $161,949,000. Caisse de depot et placement du Quebec boosted its position in Graco by 236.4% during the third quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock valued at $108,711,000 after purchasing an additional 899,174 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Graco by 20,706.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock valued at $45,605,000 after purchasing an additional 553,688 shares in the last quarter. AQR Capital Management LLC raised its stake in Graco by 116.8% in the second quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock valued at $63,201,000 after buying an additional 396,125 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in Graco by 877.5% in the third quarter. Schroder Investment Management Group now owns 334,947 shares of the industrial products company’s stock valued at $28,300,000 after buying an additional 300,682 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Stock Up 0.1%

Graco stock opened at $74.01 on Wednesday. Graco Inc. has a 52 week low of $73.56 and a 52 week high of $95.69. The company has a market capitalization of $12.28 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 2.38 and a beta of 0.93. The stock has a 50-day moving average price of $81.44 and a 200 day moving average price of $84.69.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same period last year, the firm earned $0.70 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts anticipate that Graco Inc. will post 3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GGG has been the subject of a number of research analyst reports. Robert W. Baird decreased their price target on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Graco in a research note on Friday, April 24th. Weiss Ratings cut Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Finally, DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $94.25.

Insider Activity at Graco

In other news, Director Andrea Helen Simon bought 1,240 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the acquisition, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.18% of the stock is owned by company insiders.

Graco Profile

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.