Oak Thistle LLC Makes New $1.86 Million Investment in Graco Inc. $GGG

Key Points

• Oak Thistle LLC opened a new position in Graco, buying 22,635 shares in Q4 valued at about $1.86 million.
• Insiders sold stock recently—Director J. Kevin Gilligan sold 12,870 shares (~$1.15M) and EVP Kathryn L. Schoenrock sold 2,223 shares (~$196K); insiders sold 19,394 shares worth $1.74M last quarter and now own 2.18% of the company.
• Wall Street maintains a “Moderate Buy” consensus with a $96.50 target (Jefferies at $105), and Graco's latest quarter showed EPS inline at $0.77 and revenue of $593.2M, up 8.1% year‑over‑year.

Oak Thistle LLC purchased a new position in Graco Inc. (NYSE:GGG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,635 shares of the industrial products company's stock, valued at approximately $1,855,000.

A number of other institutional investors and hedge funds have also modified their holdings of GGG. Goldman Sachs Group Inc. grew its holdings in shares of Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company's stock worth $27,592,000 after acquiring an additional 44,573 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock worth $42,000 after acquiring an additional 452 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Graco by 97.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company's stock worth $152,000 after acquiring an additional 870 shares during the period. Marshall Wace LLP grew its holdings in shares of Graco by 559.5% in the 2nd quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company's stock worth $9,293,000 after acquiring an additional 91,708 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in shares of Graco in the 2nd quarter worth approximately $1,202,000. Institutional investors and hedge funds own 93.88% of the company's stock.

Insiders Place Their Bets

In other Graco news, Director J Kevin Gilligan sold 12,870 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total transaction of $1,146,330.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total value of $195,757.38. Following the transaction, the executive vice president directly owned 7,846 shares in the company, valued at approximately $690,918.76. This represents a 22.08% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 19,394 shares of company stock worth $1,739,326. 2.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GGG shares. KeyCorp restated a "sector weight" rating on shares of Graco in a report on Tuesday, January 27th. Weiss Ratings upgraded Graco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 5th. Robert W. Baird set a $96.00 price target on Graco in a report on Wednesday, January 28th. DA Davidson reiterated a "neutral" rating and set a $85.00 target price on shares of Graco in a report on Monday, February 2nd. Finally, Jefferies Financial Group increased their target price on Graco from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.50.

Graco Stock Performance

Shares of NYSE:GGG opened at $87.86 on Thursday. The business's fifty day moving average price is $89.25 and its two-hundred day moving average price is $85.33. The stock has a market cap of $14.57 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. Graco Inc. has a one year low of $72.29 and a one year high of $95.69.

Graco (NYSE:GGG - Get Free Report) last announced its earnings results on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, meeting analysts' consensus estimates of $0.77. The firm had revenue of $593.16 million for the quarter, compared to analysts' expectations of $591.99 million. Graco had a return on equity of 19.49% and a net margin of 23.33%.Graco's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, equities research analysts predict that Graco Inc. will post 3.06 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, May 6th. Shareholders of record on Monday, April 13th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, April 13th. Graco's dividend payout ratio is currently 38.19%.

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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