Graco Inc. $GGG Holdings Lifted by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its position in shares of Graco Inc. (NYSE:GGG) by 30.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,738 shares of the industrial products company’s stock after acquiring an additional 33,269 shares during the period. BNP Paribas Financial Markets’ holdings in Graco were worth $11,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Graco in the 4th quarter valued at about $161,949,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Graco in the 4th quarter worth approximately $2,179,000. National Pension Service grew its stake in shares of Graco by 49.5% in the 4th quarter. National Pension Service now owns 7,217 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 2,390 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Graco by 5.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 139 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Graco in the 4th quarter worth approximately $2,131,000. 93.88% of the stock is currently owned by institutional investors.

Graco Trading Down 0.1%

Shares of NYSE GGG opened at $74.28 on Monday. Graco Inc. has a one year low of $73.48 and a one year high of $95.69. The firm has a market capitalization of $12.33 billion, a PE ratio of 24.20, a PEG ratio of 2.40 and a beta of 0.93. The business has a 50-day moving average price of $80.56 and a two-hundred day moving average price of $84.51.

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

Insider Buying and Selling

In related news, Director Andrea Helen Simon acquired 1,240 shares of the company’s stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director owned 1,240 shares in the company, valued at $99,857.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.18% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.