602,289 Graco Inc. $GGG Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 163.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 971,554 shares of the industrial products company's stock after buying an additional 602,289 shares during the period. Assenagon Asset Management S.A. owned about 0.60% of Graco worth $74,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Graco in the 2nd quarter valued at about $1,396,470,000. Caisse de depot et placement du Quebec purchased a new stake in Graco during the 2nd quarter worth approximately $141,667,000. Hsbc Holdings PLC acquired a new position in shares of Graco during the second quarter valued at approximately $100,157,000. Bank of New York Mellon Corp acquired a new position in shares of Graco during the second quarter valued at approximately $97,625,000. Finally, Port Capital LLC acquired a new position in shares of Graco during the second quarter valued at approximately $66,974,000. Institutional investors and hedge funds own 93.88% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GGG. DA Davidson restated a "neutral" rating and issued a $85.00 target price on shares of Graco in a research report on Monday, July 27th. Royal Bank Of Canada dropped their price target on Graco from $96.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday. Robert W. Baird set a $94.00 price objective on Graco in a research note on Friday, July 24th. Weiss Ratings upgraded Graco from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. Finally, Wolfe Research lowered Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Graco has a consensus rating of "Hold" and a consensus target price of $94.75.

Graco Stock Up 0.3%

NYSE GGG opened at $82.06 on Friday. Graco Inc. has a 52 week low of $72.51 and a 52 week high of $95.69. The firm has a 50 day moving average of $78.89 and a two-hundred day moving average of $78.63. The stock has a market capitalization of $13.29 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.89.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.10. Graco had a net margin of 23.53% and a return on equity of 19.54%. The firm had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company's revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Graco Inc. will post 3.22 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Monday, October 19th will be issued a $0.2950 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, October 19th. Graco's dividend payout ratio is 37.11%.

Graco Company Profile

Graco Inc is a Minneapolis-based manufacturer of equipment used to manage, measure, control and apply fluids and coatings. Its products are used in industrial, commercial and residential applications, including fluid handling, lubrication, dispensing, sealing, bonding, painting and corrosion protection.

The company's product portfolio includes pumps, valves, meters, regulators, controls, proportioning systems and spray equipment. Graco also supplies equipment for paint and texture application, protective coatings, sealants and adhesives, vehicle servicing, and the automated lubrication of machinery.

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