19,814 Shares in Graco Inc. $GGG Purchased by Candriam S.C.A.

Candriam S.C.A. bought a new stake in Graco Inc. (NYSE:GGG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,814 shares of the industrial products company's stock, valued at approximately $1,677,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its holdings in Graco by 32.7% in the 4th quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company's stock valued at $32,652,000 after acquiring an additional 98,141 shares during the last quarter. Comerica Bank lifted its stake in shares of Graco by 54.1% during the 4th quarter. Comerica Bank now owns 172,328 shares of the industrial products company's stock worth $14,126,000 after purchasing an additional 60,486 shares during the period. Swiss Life Asset Management Ltd boosted its holdings in shares of Graco by 40.5% during the third quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company's stock worth $3,869,000 after purchasing an additional 13,130 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Graco during the fourth quarter worth $3,527,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Graco by 20,706.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company's stock valued at $45,605,000 after purchasing an additional 553,688 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Graco

In other Graco news, Director Andrea Helen Simon purchased 1,240 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the acquisition, the director owned 1,240 shares of the company's stock, valued at approximately $99,857.20. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.18% of the company's stock.

Wall Street Analysts Forecast Growth

GGG has been the topic of several recent analyst reports. DA Davidson reiterated a "neutral" rating and set a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Weiss Ratings cut Graco from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, June 5th. Robert W. Baird dropped their price objective on shares of Graco from $96.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. Wolfe Research lowered shares of Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Graco in a research report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Graco has an average rating of "Hold" and a consensus target price of $94.25.

Graco Trading Down 0.1%

Shares of Graco stock opened at $73.83 on Wednesday. The business's fifty day moving average price is $75.43 and its 200 day moving average price is $83.08. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The stock has a market capitalization of $12.25 billion, a P/E ratio of 24.05, a PEG ratio of 2.38 and a beta of 0.93.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.The business's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. As a group, sell-side analysts predict that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, July 20th. Graco's dividend payout ratio is 38.44%.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco's solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company's product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.

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