Narwhal Capital Management Increases Holdings in Graco Inc. (NYSE:GGG)

Narwhal Capital Management boosted its stake in Graco Inc. (NYSE:GGG - Free Report) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,011 shares of the industrial products company's stock after acquiring an additional 6,410 shares during the quarter. Narwhal Capital Management owned about 0.05% of Graco worth $7,517,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GGG. Orion Portfolio Solutions LLC lifted its holdings in Graco by 1.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company's stock worth $1,226,000 after buying an additional 138 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Graco by 6.1% during the 4th quarter. IFP Advisors Inc now owns 2,782 shares of the industrial products company's stock valued at $235,000 after buying an additional 160 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Graco by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,398 shares of the industrial products company's stock worth $2,899,000 after buying an additional 171 shares during the last quarter. Principal Securities Inc. raised its holdings in Graco by 23.3% in the fourth quarter. Principal Securities Inc. now owns 1,007 shares of the industrial products company's stock valued at $85,000 after acquiring an additional 190 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in Graco by 118.0% during the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 190 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research began coverage on shares of Graco in a research note on Wednesday. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.00.

Insider Buying and Selling at Graco

In related news, insider David J. Thompson sold 3,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total value of $309,393.24. Following the sale, the insider now owns 27,520 shares of the company's stock, valued at approximately $2,373,049.60. This trade represents a 11.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.19% of the stock is currently owned by insiders.

Graco Price Performance

Shares of GGG opened at $83.96 on Monday. The stock has a market capitalization of $14.03 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 2.84 and a beta of 1.07. The business's fifty day moving average price is $83.20 and its 200 day moving average price is $83.87. 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 posted its quarterly 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. Graco had a net margin of 22.70% and a return on equity of 19.42%. The company had revenue of $528.28 million for the quarter, compared to the consensus estimate of $526.98 million. During the same period last year, the firm posted $0.65 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st will be paid 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 1.31%. Graco's payout ratio is currently 38.87%.

Graco Company Profile

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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