California Public Employees Retirement System Increases Stake in Graco Inc. (NYSE:GGG)

California Public Employees Retirement System boosted its stake in Graco Inc. (NYSE:GGG) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,717 shares of the industrial products company’s stock after purchasing an additional 8,717 shares during the quarter. California Public Employees Retirement System owned about 0.30% of Graco worth $20,621,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GGG. Koch Industries Inc. purchased a new stake in Graco in the 2nd quarter worth $582,000. Janus Henderson Group PLC purchased a new stake in Graco in the 2nd quarter worth $33,167,000. Fiera Capital Corp lifted its stake in Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock worth $330,196,000 after purchasing an additional 206,130 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Graco by 109.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 341,998 shares of the industrial products company’s stock worth $37,374,000 after purchasing an additional 178,687 shares in the last quarter. Finally, FMR LLC purchased a new stake in Graco in the 2nd quarter worth $16,392,000. Institutional investors and hedge funds own 28.75% of the company’s stock.

Shares of Graco Inc. (NYSE:GGG) traded down $0.10 during trading hours on Friday, reaching $46.92. 407,776 shares of the company traded hands, compared to its average volume of 671,996. The company has a market cap of $7,917.70, a P/E ratio of 74.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.23. Graco Inc. has a one year low of $28.39 and a one year high of $47.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.23 and a quick ratio of 1.46.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. The company had revenue of $379.81 million for the quarter, compared to the consensus estimate of $356.30 million. Graco had a net margin of 7.72% and a return on equity of 42.05%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. analysts predict that Graco Inc. will post 1.45 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Monday, January 22nd will be issued a dividend of $0.3975 per share. This represents a $1.59 annualized dividend and a yield of 3.39%. This is an increase from Graco’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, January 19th. Graco’s dividend payout ratio is presently 75.79%.

Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Royal Bank of Canada restated a “hold” rating and set a $49.00 target price on shares of Graco in a research report on Thursday, January 4th. Oppenheimer restated a “hold” rating on shares of Graco in a research report on Thursday, December 28th. B. Riley restated a “hold” rating and set a $46.67 target price on shares of Graco in a research report on Wednesday, December 20th. Finally, Robert W. Baird restated a “hold” rating and set a $47.67 target price on shares of Graco in a research report on Friday, December 15th. Thirteen research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $41.67.

In other Graco news, insider Daniel Stolyarov sold 500,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $0.11, for a total value of $55,000.00. Also, VP Mark W. Sheahan sold 30,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $131.31, for a total transaction of $3,939,300.00. Following the completion of the transaction, the vice president now owns 49,538 shares in the company, valued at $6,504,834.78. The disclosure for this sale can be found here. Insiders have sold a total of 734,752 shares of company stock worth $18,245,690 over the last quarter. 5.70% of the stock is currently owned by insiders.

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About Graco

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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