Rockland Trust Co. purchased a new stake in Graco Inc. (NYSE:GGG) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,000 shares of the industrial products company’s stock, valued at approximately $543,000.
Other large investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its holdings in shares of Graco by 200.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after buying an additional 800 shares in the last quarter. Parallax Volatility Advisers L.P. boosted its holdings in shares of Graco by 127.0% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,918 shares of the industrial products company’s stock valued at $210,000 after buying an additional 1,073 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Graco in the 3rd quarter valued at about $210,000. Boston Private Wealth LLC acquired a new stake in Graco in the 3rd quarter worth approximately $210,000. Finally, Tiedemann Wealth Management LLC boosted its stake in Graco by 62.8% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 4,920 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 1,898 shares in the last quarter. Institutional investors and hedge funds own 28.75% of the company’s stock.
Graco Inc. (GGG) opened at $47.02 on Friday. Graco Inc. has a 1 year low of $28.06 and a 1 year high of $47.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.46 and a current ratio of 2.23. The stock has a market cap of $2,640.00, a P/E ratio of 75.84, a price-to-earnings-growth ratio of 2.80 and a beta of 1.24.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Monday, January 22nd will be given a dividend of $0.3975 per share. The ex-dividend date is Friday, January 19th. This is a positive change from Graco’s previous quarterly dividend of $0.36. This represents a $1.59 dividend on an annualized basis and a yield of 3.38%. Graco’s dividend payout ratio (DPR) is currently 77.42%.
A number of analysts recently commented on the stock. B. Riley reiterated a “neutral” rating on shares of Graco in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada reiterated a “hold” rating and issued a $49.00 target price on shares of Graco in a research note on Thursday, January 4th. Oppenheimer reiterated a “hold” rating on shares of Graco in a research note on Thursday, December 28th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $43.00 target price on shares of Graco in a research note on Wednesday, October 4th. Thirteen investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $41.67.
In other Graco news, VP Karen Park Gallivan sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $46.67, for a total transaction of $1,260,090.00. Following the completion of the transaction, the vice president now directly owns 72,305 shares of the company’s stock, valued at approximately $3,374,474.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christian E. Rothe sold 12,750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $132.01, for a total transaction of $1,683,127.50. Following the transaction, the chief financial officer now directly owns 16,905 shares of the company’s stock, valued at $2,231,629.05. The disclosure for this sale can be found here. Insiders have sold a total of 734,752 shares of company stock valued at $18,245,690 over the last three months. 5.70% of the stock is currently owned by insiders.
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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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