Oxbow Advisors LLC Invests $3.16 Million in Graco Inc. $GGG

Key Points

• Oxbow Advisors LLC opened a new position in Graco, buying 38,515 shares worth about $3.16 million in the fourth quarter.
• Institutional interest in Graco remains high, with hedge funds and other investors increasing holdings and institutions now owning 93.88% of the stock.
• Graco reported mixed quarterly results, missing both earnings and revenue estimates, while analysts currently rate the stock a consensus "Hold" with a target price of $94.25.

Oxbow Advisors LLC purchased a new position in Graco Inc. (NYSE:GGG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 38,515 shares of the industrial products company's stock, valued at approximately $3,157,000.

Other hedge funds have also added to or reduced their stakes in the company. AE Wealth Management LLC lifted its stake in Graco by 32.7% in the fourth quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company's stock valued at $32,652,000 after purchasing an additional 98,141 shares during the last quarter. Nordea Investment Management AB increased its position in Graco by 432.6% in the third quarter. Nordea Investment Management AB now owns 85,654 shares of the industrial products company's stock worth $7,263,000 after buying an additional 69,573 shares during the last quarter. Raiffeisen Bank International AG raised its stake in shares of Graco by 191.8% in the third quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company's stock valued at $744,000 after buying an additional 5,790 shares during the period. Swiss Life Asset Management Ltd lifted its position in shares of Graco by 40.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company's stock valued at $3,869,000 after buying an additional 13,130 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Graco by 154.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 64,341 shares of the industrial products company's stock valued at $5,466,000 after buying an additional 39,031 shares during the last quarter. Institutional investors own 93.88% of the company's stock.

Analyst Upgrades and Downgrades

GGG has been the subject of several recent research reports. DA Davidson reissued a "neutral" rating and issued a $85.00 price objective on shares of Graco in a report on Monday, April 27th. Weiss Ratings lowered shares of Graco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Graco in a research note on Friday, April 24th. Jefferies Financial Group boosted their price target on shares of Graco from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, January 28th. Finally, KeyCorp restated a "sector weight" rating on shares of Graco in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $94.25.

Graco Trading Down 1.4%

GGG stock opened at $77.59 on Friday. The firm has a 50 day moving average of $86.00 and a 200-day moving average of $85.39. The firm has a market capitalization of $12.88 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 2.48 and a beta of 0.96. Graco Inc. has a 12 month low of $77.42 and a 12 month high of $95.69.

Graco (NYSE:GGG - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm had revenue of $540.14 million during the quarter, compared to analysts' expectations of $561.35 million. During the same quarter in the prior year, the company earned $0.70 earnings per share. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts predict that Graco Inc. will post 3.13 EPS for the current year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Monday, April 13th were given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, April 13th. Graco's dividend payout ratio (DPR) is 38.44%.

Insider Transactions at Graco

In other Graco news, Director Andrea Helen Simon acquired 1,240 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the purchase, the director owned 1,240 shares of the company's stock, valued at approximately $99,857.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.18% of the company's stock.

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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