Graco Inc. (GGG) Position Increased by American Century Companies Inc.

American Century Companies Inc. grew its position in shares of Graco Inc. (NYSE:GGG) by 253.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 832,128 shares of the industrial products company’s stock after acquiring an additional 596,448 shares during the quarter. American Century Companies Inc. owned 0.49% of Graco worth $37,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake in Graco by 53.5% in the 4th quarter. Meeder Asset Management Inc. now owns 3,174 shares of the industrial products company’s stock valued at $144,000 after acquiring an additional 1,106 shares during the period. Hexavest Inc. increased its position in shares of Graco by 200.0% during the fourth quarter. Hexavest Inc. now owns 4,200 shares of the industrial products company’s stock valued at $190,000 after buying an additional 2,800 shares during the period. Fiduciary Trust Co. bought a new stake in shares of Graco during the fourth quarter valued at about $201,000. Ballentine Partners LLC bought a new stake in shares of Graco during the third quarter valued at about $210,000. Finally, Boston Private Wealth LLC bought a new stake in shares of Graco during the third quarter valued at about $210,000. 64.67% of the stock is currently owned by institutional investors.

In other Graco news, VP Karen Park Gallivan sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $132.00, for a total value of $1,980,000.00. Following the transaction, the vice president now directly owns 30,060 shares of the company’s stock, valued at $3,967,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Caroline M. Chambers sold 9,939 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.03, for a total value of $417,736.17. Following the completion of the transaction, the vice president now directly owns 30,615 shares in the company, valued at $1,286,748.45. The disclosure for this sale can be found here. Insiders have sold 91,689 shares of company stock valued at $6,646,134 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Shares of Graco Inc. (NYSE:GGG) opened at $44.04 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $7,415.90, a price-to-earnings ratio of 30.30, a P/E/G ratio of 2.35 and a beta of 1.15. Graco Inc. has a 52 week low of $29.70 and a 52 week high of $49.69.

Graco (NYSE:GGG) last posted its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $374.90 million during the quarter, compared to the consensus estimate of $369.53 million. Graco had a return on equity of 40.08% and a net margin of 17.12%. Graco’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. analysts expect that Graco Inc. will post 1.78 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Monday, April 16th will be issued a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 1.20%. Graco’s payout ratio is presently 36.47%.

Several equities research analysts have recently weighed in on GGG shares. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. B. Riley restated a “hold” rating and issued a $46.67 price objective on shares of Graco in a research report on Wednesday, December 20th. SunTrust Banks restated a “hold” rating and issued a $45.00 price objective on shares of Graco in a research report on Wednesday, January 31st. ValuEngine lowered Graco from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $47.67 target price on shares of Graco in a research note on Friday, December 15th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.33.

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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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