Running Oak Capital LLC Has $9.36 Million Stake in Graco Inc. (NYSE:GGG)

Running Oak Capital LLC increased its stake in Graco Inc. (NYSE:GGG) by 15.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 107,864 shares of the industrial products company’s stock after purchasing an additional 14,327 shares during the quarter. Graco makes up approximately 1.8% of Running Oak Capital LLC’s portfolio, making the stock its 19th biggest holding. Running Oak Capital LLC owned 0.06% of Graco worth $9,358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tobam grew its position in Graco by 2,330.8% in the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 303 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Graco in the fourth quarter worth $28,000. Fortitude Family Office LLC bought a new stake in Graco in the fourth quarter worth $29,000. Allspring Global Investments Holdings LLC lifted its stake in Graco by 3,063.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 582 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Graco by 370.7% during the third quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 493 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Trading Up 0.7 %

GGG stock traded up $0.59 on Thursday, hitting $80.91. The company had a trading volume of 699,078 shares, compared to its average volume of 683,302. Graco Inc. has a 12-month low of $69.78 and a 12-month high of $94.77. The stock’s 50-day simple moving average is $90.58 and its 200 day simple moving average is $85.09. The stock has a market cap of $13.69 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 2.62 and a beta of 0.84.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.09). Graco had a return on equity of 23.01% and a net margin of 23.15%. The company had revenue of $492.19 million during the quarter, compared to analysts’ expectations of $536.19 million. During the same quarter in the prior year, the business posted $0.74 EPS. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Research analysts forecast that Graco Inc. will post 3.07 earnings per share for the current year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were paid a $0.255 dividend. The ex-dividend date was Friday, April 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.26%. Graco’s payout ratio is currently 35.17%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Robert W. Baird lowered their price objective on shares of Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. William Blair restated a “market perform” rating on shares of Graco in a report on Friday, April 26th. Jefferies Financial Group upped their price objective on shares of Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Royal Bank of Canada upped their price objective on shares of Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, StockNews.com cut shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.25.

Insider Activity at Graco

In other Graco news, insider Timothy R. White sold 2,895 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $87.49, for a total value of $253,283.55. Following the completion of the sale, the insider now directly owns 50,782 shares of the company’s stock, valued at approximately $4,442,917.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Anthony J. Gargano sold 1,395 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.00, for a total value of $122,760.00. Following the transaction, the insider now directly owns 5,697 shares of the company’s stock, valued at $501,336. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy R. White sold 2,895 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $87.49, for a total transaction of $253,283.55. Following the sale, the insider now owns 50,782 shares of the company’s stock, valued at $4,442,917.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,378 shares of company stock worth $4,376,528. Insiders own 2.63% of the company’s stock.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.