Pacer Advisors Inc. Boosts Stock Position in Graco Inc. $GGG

Pacer Advisors Inc. raised its stake in Graco Inc. (NYSE:GGG) by 15.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 228,044 shares of the industrial products company’s stock after purchasing an additional 30,035 shares during the quarter. Pacer Advisors Inc. owned 0.14% of Graco worth $18,693,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Graco in the fourth quarter valued at about $161,949,000. Bank of Montreal Can increased its position in Graco by 1,636.9% during the 4th quarter. Bank of Montreal Can now owns 1,011,196 shares of the industrial products company’s stock worth $82,888,000 after purchasing an additional 952,977 shares during the period. Caisse de depot et placement du Quebec raised its stake in shares of Graco by 236.4% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock worth $108,711,000 after buying an additional 899,174 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Graco by 20,706.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock valued at $45,605,000 after buying an additional 553,688 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Graco by 116.8% during the second quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock worth $63,201,000 after acquiring an additional 396,125 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Up 0.0%

Shares of Graco stock opened at $76.06 on Friday. Graco Inc. has a fifty-two week low of $73.26 and a fifty-two week high of $95.69. The business’s fifty day moving average is $78.61 and its two-hundred day moving average is $84.05. The firm has a market cap of $12.62 billion, a PE ratio of 24.77, a P/E/G ratio of 2.45 and a beta of 0.93.

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

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.6%. Graco’s dividend payout ratio is currently 38.44%.

Analyst Ratings Changes

Several research firms have recently commented on GGG. DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research report on Monday, April 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Graco in a research report on Friday, April 24th. Weiss Ratings lowered Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Robert W. Baird decreased their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.25.

Insider Buying and Selling at Graco

In related news, Director Andrea Helen Simon acquired 1,240 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were acquired at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the acquisition, the director directly owned 1,240 shares in the company, valued at approximately $99,857.20. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.18% of the stock is currently owned by insiders.

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.