Nebula Research & Development LLC decreased its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 67.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,661 shares of the industrial products company's stock after selling 5,449 shares during the period. Nebula Research & Development LLC's holdings in Graco were worth $224,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Allianz Asset Management GmbH raised its position in shares of Graco by 32.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company's stock valued at $130,298,000 after purchasing an additional 374,967 shares during the period. PineStone Asset Management Inc. grew its position in shares of Graco by 2.7% in the fourth quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company's stock valued at $244,836,000 after purchasing an additional 76,184 shares during the last quarter. Canoe Financial LP lifted its position in shares of Graco by 359.2% during the 4th quarter. Canoe Financial LP now owns 640,474 shares of the industrial products company's stock worth $53,986,000 after purchasing an additional 501,003 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Graco by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company's stock valued at $88,923,000 after buying an additional 19,545 shares during the last quarter. Finally, Whittier Trust Co. increased its position in Graco by 3.4% in the 4th quarter. Whittier Trust Co. now owns 184,103 shares of the industrial products company's stock worth $15,518,000 after buying an additional 6,041 shares during the period. 93.88% of the stock is owned by institutional investors.
Graco Stock Performance
Shares of GGG stock opened at $81.70 on Friday. The firm has a fifty day moving average of $81.94 and a 200-day moving average of $84.55. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 28.97, a P/E/G ratio of 2.85 and a beta of 0.92. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86.
Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. Graco had a net margin of 23.00% and a return on equity of 19.38%. The firm had revenue of $528.28 million during the quarter, compared to analysts' expectations of $526.98 million. During the same quarter last year, the company earned $0.65 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.
Graco Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 annualized dividend and a yield of 1.35%. Graco's dividend payout ratio is currently 38.87%.
Analyst Ratings Changes
GGG has been the topic of a number of research reports. DA Davidson set a $85.00 target price on shares of Graco in a research report on Friday, January 31st. Royal Bank of Canada upped their price objective on shares of Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $93.00.
Check Out Our Latest Stock Analysis on GGG
Graco Company Profile
(
Free Report)
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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