Arrowstreet Capital Limited Partnership lifted its stake in shares of Graco Inc. (NYSE:GGG) by 912.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 550,800 shares of the industrial products company’s stock after purchasing an additional 496,400 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Graco were worth $24,907,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in GGG. BlackRock Inc. raised its stake in shares of Graco by 213.0% during the 4th quarter. BlackRock Inc. now owns 14,002,690 shares of the industrial products company’s stock valued at $633,202,000 after purchasing an additional 9,529,107 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of Graco by 162.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,025,330 shares of the industrial products company’s stock valued at $136,805,000 after purchasing an additional 1,872,855 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Graco by 190.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,578,707 shares of the industrial products company’s stock valued at $116,609,000 after purchasing an additional 1,689,416 shares during the period. Confluence Investment Management LLC raised its stake in shares of Graco by 195.2% during the 4th quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock valued at $106,147,000 after purchasing an additional 1,552,175 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Graco by 210.8% during the 4th quarter. Wells Fargo & Company MN now owns 2,063,783 shares of the industrial products company’s stock valued at $93,325,000 after purchasing an additional 1,399,844 shares during the period. Institutional investors own 64.67% of the company’s stock.
In other news, VP Karen Park Gallivan sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $132.00, for a total value of $1,980,000.00. Following the completion of the transaction, the vice president now directly owns 30,060 shares in the company, valued at approximately $3,967,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Caroline M. Chambers sold 9,939 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.03, for a total value of $417,736.17. Following the completion of the transaction, the vice president now owns 30,615 shares of the company’s stock, valued at $1,286,748.45. The disclosure for this sale can be found here. Insiders sold a total of 91,689 shares of company stock worth $6,646,134 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.
Graco (NYSE:GGG) last announced its earnings results on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $374.90 million during the quarter, compared to the consensus estimate of $369.53 million. Graco had a return on equity of 40.08% and a net margin of 17.12%. Graco’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. equities analysts predict that Graco Inc. will post 1.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Monday, April 16th will be paid a $0.1325 dividend. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.53 dividend on an annualized basis and a yield of 1.18%. Graco’s dividend payout ratio is currently 36.47%.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Graco from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Saturday, February 3rd. SunTrust Banks reiterated a “hold” rating and set a $45.00 price objective on shares of Graco in a research note on Wednesday, January 31st. B. Riley upped their target price on Graco from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Deutsche Bank upgraded Graco from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $49.00 target price on shares of Graco in a research note on Thursday, January 4th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.33.
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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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