Farther Finance Advisors LLC increased its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 150.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,998 shares of the industrial products company's stock after acquiring an additional 4,806 shares during the quarter. Farther Finance Advisors LLC's holdings in Graco were worth $675,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Graco by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company's stock worth $1,444,864,000 after acquiring an additional 183,335 shares during the last quarter. Geode Capital Management LLC boosted its position in Graco by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,229,385 shares of the industrial products company's stock worth $356,053,000 after acquiring an additional 77,093 shares during the last quarter. PineStone Asset Management Inc. boosted its position in Graco by 2.7% during the fourth quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company's stock worth $244,836,000 after acquiring an additional 76,184 shares during the last quarter. Principal Financial Group Inc. boosted its position in Graco by 17.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,328,179 shares of the industrial products company's stock worth $196,242,000 after acquiring an additional 337,437 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Graco during the 4th quarter valued at $177,434,000. Institutional investors and hedge funds own 93.88% of the company's stock.
Insiders Place Their Bets
In other news, insider David J. Thompson sold 3,588 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the sale, the insider now owns 27,520 shares of the company's stock, valued at approximately $2,373,049.60. The trade was a 11.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.19% of the stock is currently owned by company insiders.
Graco Stock Down 1.9%
Shares of NYSE GGG traded down $1.65 during trading on Friday, hitting $83.48. 612,732 shares of the company traded hands, compared to its average volume of 808,149. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The company has a 50-day moving average price of $82.56 and a 200-day moving average price of $84.13. The firm has a market capitalization of $13.95 billion, a P/E ratio of 29.60, a P/E/G ratio of 2.85 and a beta of 1.07.
Graco (NYSE:GGG - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 business's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. Research analysts predict that Graco Inc. will post 3.06 EPS for the current fiscal year.
Graco Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st will be issued a $0.275 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a yield of 1.32%. Graco's dividend payout ratio is currently 38.87%.
About Graco
(
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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