Skandinaviska Enskilda Banken AB publ Has $15.94 Million Holdings in Graco Inc. (NYSE:GGG)

Key Points

• Skandinaviska Enskilda Banken AB purchased an additional 3,600 shares of Graco Inc., increasing its stake by 1.9%, bringing its total ownership to approximately 190,845 shares valued at $15.9 million.
• Graco recently reported earnings of $0.75 per share, missing analyst expectations, with a revenue of $571.81 million for the last quarter, which was below the forecast of $590.57 million.
• The company announced a quarterly dividend of $0.275, reflecting a 1.30% dividend yield and a payout ratio of 38.87%.

Skandinaviska Enskilda Banken AB publ boosted its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,845 shares of the industrial products company's stock after buying an additional 3,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.11% of Graco worth $15,937,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GGG. Norges Bank acquired a new position in shares of Graco in the 4th quarter valued at $177,434,000. Massachusetts Financial Services Co. MA boosted its position in Graco by 26,738.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,841,916 shares of the industrial products company's stock worth $155,255,000 after acquiring an additional 1,835,053 shares during the period. Northern Trust Corp boosted its position in Graco by 36.7% during the 4th quarter. Northern Trust Corp now owns 1,929,952 shares of the industrial products company's stock worth $162,676,000 after acquiring an additional 518,462 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Graco by 76.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,147,341 shares of the industrial products company's stock worth $96,709,000 after acquiring an additional 495,293 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in Graco by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,497,164 shares of the industrial products company's stock worth $126,196,000 after acquiring an additional 486,277 shares during the period. Institutional investors own 93.88% of the company's stock.

Graco Stock Down 0.6%

Shares of GGG traded down $0.52 during midday trading on Wednesday, reaching $84.06. 166,468 shares of the stock were exchanged, compared to its average volume of 831,499. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86. The firm has a 50 day simple moving average of $85.70 and a 200-day simple moving average of $84.16. The company has a market cap of $13.93 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 2.86 and a beta of 1.06.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a return on equity of 19.05% and a net margin of 22.26%. The firm had revenue of $571.81 million for the quarter, compared to analysts' expectations of $590.57 million. During the same period last year, the business earned $0.77 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts expect 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. Investors 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 annualized dividend and a yield of 1.31%. Graco's dividend payout ratio (DPR) is currently 39.01%.

Analyst Ratings Changes

GGG has been the subject of a number of research reports. Robert W. Baird raised their price objective on Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Wolfe Research began coverage on Graco in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $94.50.

Insiders Place Their Bets

In related news, insider David J. Thompson sold 3,588 shares of the business'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 completion of the sale, the insider directly owned 27,520 shares in the company, 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 through this link. Company insiders own 2.19% of the company's stock.

About Graco

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.