NN Investment Partners Holdings N.V. bought a new position in Graco Inc. (NYSE:GGG) during the second quarter, according to its most recent filing with the SEC. The firm bought 5,937 shares of the industrial products company’s stock, valued at approximately $649,000.
A number of other hedge funds have also added to or reduced their stakes in GGG. Creative Planning raised its stake in Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock worth $141,000 after buying an additional 76 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock worth $168,000 after buying an additional 62 shares in the last quarter. TLP Group LLC acquired a new stake in Graco during the first quarter worth approximately $193,000. Canada Pension Plan Investment Board raised its stake in Graco by 425.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock worth $198,000 after buying an additional 1,700 shares in the last quarter. Finally, Park National Corp OH acquired a new stake in Graco during the first quarter worth approximately $203,000. 90.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Graco Inc. (NYSE GGG) traded down 0.90% during trading on Friday, hitting $112.37. 162,979 shares of the stock traded hands. The firm has a 50-day moving average of $111.29 and a 200-day moving average of $103.25. Graco Inc. has a 1-year low of $69.33 and a 1-year high of $116.75. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 71.30 and a beta of 1.25.
Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.32. The business had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. Graco’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. On average, equities analysts forecast that Graco Inc. will post $4.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, July 13th. Graco’s payout ratio is 92.90%.
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A number of analysts have commented on GGG shares. TheStreet raised shares of Graco from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a report on Monday, July 31st. BidaskClub lowered shares of Graco from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Deutsche Bank AG reissued a “hold” rating and issued a $110.00 price target (up previously from $105.00) on shares of Graco in a report on Monday, June 5th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $104.00 price target on shares of Graco in a report on Monday, June 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $106.20.
In other Graco news, VP Karen Park Gallivan sold 12,242 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $1,407,830.00. Following the completion of the sale, the vice president now directly owns 27,264 shares in the company, valued at $3,135,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Peter J. O’shea sold 15,986 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $113.50, for a total transaction of $1,814,411.00. Following the completion of the sale, the vice president now owns 20,638 shares of the company’s stock, valued at $2,342,413. The disclosure for this sale can be found here. Insiders sold 119,021 shares of company stock valued at $6,483,384 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.
Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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