Nomura Holdings Inc. purchased a new stake in Graco Inc. (NYSE:GGG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,405 shares of the industrial products company's stock, valued at approximately $1,889,000.
Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in Graco in the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC increased its stake in Graco by 118.0% in the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 190 shares during the last quarter. National Pension Service purchased a new position in Graco in the fourth quarter valued at approximately $34,000. Whipplewood Advisors LLC purchased a new position in Graco in the fourth quarter valued at approximately $37,000. Finally, Brooklyn Investment Group increased its stake in Graco by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 136 shares during the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.
Graco Trading Up 1.7%
Shares of GGG opened at $87.37 on Friday. The firm has a market cap of $14.60 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The company's 50 day simple moving average is $81.57 and its 200-day simple moving average is $84.57. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86.
Graco (NYSE:GGG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The business had revenue of $528.28 million for the quarter, compared to analyst estimates of $526.98 million. Graco had a net margin of 23.00% and a return on equity of 19.38%. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. As a group, equities research analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.
Insider Transactions at Graco
In related news, insider David J. Thompson sold 3,588 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the sale, the insider now directly owns 27,520 shares of the company's stock, valued at $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.19% of the company's stock.
Analyst Ratings Changes
Separately, DA Davidson set a $85.00 price target on shares of Graco in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $93.00.
Check Out Our Latest Stock Analysis on GGG
Graco Company Profile
(
Free Report)
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.
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