Oddo BHF Asset Management Sas Has $4.06 Million Stock Position in Graco Inc. $GGG

Key Points

• Oddo BHF Asset Management Sas increased its stake in Graco by 65.6% in the fourth quarter, bringing its holdings to 49,484 shares worth about $4.06 million.
• Graco’s stock has seen mixed analyst sentiment: the consensus rating is Hold, with an average price target of $94.25, while recent notes included one downgrade and several reiterated ratings.
• The company reported mixed quarterly results, missing EPS and revenue estimates, and it also declared a quarterly dividend of $0.295 per share payable on August 5, yielding about 1.5% annually.

Oddo BHF Asset Management Sas raised its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 65.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,484 shares of the industrial products company's stock after purchasing an additional 19,595 shares during the period. Oddo BHF Asset Management Sas' holdings in Graco were worth $4,056,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp raised its position in Graco by 361.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 31,368 shares of the industrial products company's stock valued at $2,571,000 after purchasing an additional 24,565 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of Graco by 31.7% in the 4th quarter. Verition Fund Management LLC now owns 141,465 shares of the industrial products company's stock valued at $11,596,000 after purchasing an additional 34,077 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Graco by 1,896.8% in the 4th quarter. Panagora Asset Management Inc. now owns 169,026 shares of the industrial products company's stock valued at $13,855,000 after purchasing an additional 160,561 shares in the last quarter. Maren Capital LLC boosted its stake in shares of Graco by 2.5% in the 4th quarter. Maren Capital LLC now owns 788,649 shares of the industrial products company's stock valued at $64,646,000 after purchasing an additional 19,176 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in shares of Graco by 9.3% in the 4th quarter. Focus Partners Wealth now owns 52,534 shares of the industrial products company's stock valued at $4,435,000 after purchasing an additional 4,460 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Graco from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, June 5th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 price target on shares of Graco in a research note on Friday, April 24th. DA Davidson reiterated a "neutral" rating and issued a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Finally, Robert W. Baird dropped their price target on Graco from $96.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Graco presently has a consensus rating of "Hold" and an average price target of $94.25.

Graco Stock Up 1.6%

Shares of GGG opened at $76.32 on Wednesday. Graco Inc. has a 12-month low of $73.26 and a 12-month high of $95.69. The business has a 50-day simple moving average of $79.21 and a two-hundred day simple moving average of $84.20. The stock has a market cap of $12.67 billion, a PE ratio of 24.86, a PEG ratio of 2.42 and a beta of 0.93.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.09). The business 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%.Graco's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. On average, equities research analysts expect that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, July 20th. Graco's payout ratio is 38.44%.

Insider Activity at Graco

In other Graco news, Director Andrea Helen Simon purchased 1,240 shares of the business's stock in a transaction dated Monday, April 27th. The shares were bought 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 in the company, valued at approximately $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.18% of the company's stock.

About Graco

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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