Wedbush Securities Inc. Increases Position in Graco Inc. (GGG)

Wedbush Securities Inc. boosted its stake in Graco Inc. (NYSE:GGG) by 213.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,044 shares of the industrial products company’s stock after buying an additional 6,162 shares during the period. Wedbush Securities Inc.’s holdings in Graco were worth $409,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its stake in Graco by 6.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 7,211 shares of the industrial products company’s stock valued at $892,000 after buying an additional 413 shares during the last quarter. Comerica Bank grew its stake in Graco by 1.0% in the 3rd quarter. Comerica Bank now owns 44,201 shares of the industrial products company’s stock valued at $5,779,000 after buying an additional 440 shares during the last quarter. Cardinal Capital Management grew its position in shares of Graco by 6.8% during the 3rd quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock worth $942,000 after purchasing an additional 488 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Graco by 5.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,250 shares of the industrial products company’s stock worth $1,515,000 after purchasing an additional 600 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Graco by 23.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,603 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 687 shares in the last quarter. Institutional investors and hedge funds own 64.67% of the company’s stock.

Graco Inc. (GGG) opened at $44.87 on Friday. Graco Inc. has a 52-week low of $29.70 and a 52-week high of $49.69. The stock has a market cap of $7,502.90, a P/E ratio of 30.87, a price-to-earnings-growth ratio of 2.37 and a beta of 1.15. The company has a current ratio of 2.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Investors of record on Monday, April 16th will be given a dividend of $0.1325 per share. The ex-dividend date is Friday, April 13th. This represents a $0.53 annualized dividend and a dividend yield of 1.18%. Graco’s dividend payout ratio is 36.47%.

A number of brokerages have issued reports on GGG. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Saturday, February 3rd. SunTrust Banks restated a “hold” rating and set a $45.00 target price on shares of Graco in a research report on Wednesday, January 31st. B. Riley increased their target price on shares of Graco from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Deutsche Bank upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, January 23rd. Finally, 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. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Graco currently has a consensus rating of “Hold” and a consensus price target of $47.33.

In related news, VP Karen Park Gallivan sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $132.00, for a total transaction of $1,980,000.00. Following the sale, the vice president now owns 30,060 shares in the company, valued at approximately $3,967,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Caroline M. Chambers sold 9,939 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.03, for a total transaction of $417,736.17. Following the sale, the vice president now owns 30,615 shares in the company, valued at approximately $1,286,748.45. The disclosure for this sale can be found here. Insiders have sold a total of 91,689 shares of company stock worth $6,646,134 in the last quarter. 5.70% of the stock is currently owned by company 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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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