Teachers Retirement System of The State of Kentucky grew its position in Graco Inc. (NYSE:GGG) by 200.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,750 shares of the industrial products company’s stock after purchasing an additional 24,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Graco were worth $1,662,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GGG. Raymond James Financial Services Advisors Inc. lifted its stake in shares of 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 purchasing an additional 413 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Graco in the 3rd quarter valued at about $234,000. New York State Common Retirement Fund lifted its stake in shares of Graco by 1.7% in the 3rd quarter. New York State Common Retirement Fund now owns 122,700 shares of the industrial products company’s stock valued at $15,177,000 after purchasing an additional 2,000 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Graco by 11.9% in the 3rd quarter. Rhumbline Advisers now owns 132,807 shares of the industrial products company’s stock valued at $16,427,000 after purchasing an additional 14,130 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of 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 purchasing an additional 440 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.
Graco Inc. (GGG) opened at $46.63 on Tuesday. The company has a market capitalization of $7,894.32, a P/E ratio of 32.08, a P/E/G ratio of 2.49 and a beta of 1.17. 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 Inc. has a 52-week low of $30.59 and a 52-week high of $49.69.
Graco (NYSE:GGG) last released its quarterly earnings results on Monday, January 29th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company 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 period last year, the firm posted $1.00 earnings per share. analysts predict that Graco Inc. will post 1.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Monday, April 16th will be issued a dividend of $0.1325 per share. The ex-dividend date is Friday, April 13th. This represents a $0.53 annualized dividend and a yield of 1.14%. Graco’s dividend payout ratio is presently 36.47%.
In other Graco news, VP Karen Park Gallivan sold 27,000 shares of Graco stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $48.34, for a total transaction of $1,305,180.00. Following the sale, the vice president now directly owns 72,305 shares in the company, valued at approximately $3,495,223.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Caroline M. Chambers sold 9,939 shares of Graco stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.03, for a total value of $417,736.17. Following the sale, the vice president now 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 a total of 90,564 shares of company stock worth $4,225,595 over the last 90 days. 5.70% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on GGG shares. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Saturday, February 3rd. Deutsche Bank raised Graco from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, January 23rd. Royal Bank of Canada reissued a “hold” rating and set a $49.00 price target on shares of Graco in a research report on Thursday, January 4th. Oppenheimer reissued a “hold” rating on shares of Graco in a research report on Thursday, December 28th. Finally, B. Riley reissued a “hold” rating and set a $46.67 price target on shares of Graco in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.33.
COPYRIGHT VIOLATION WARNING: This article was reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://www.thelincolnianonline.com/2018/03/20/graco-inc-ggg-shares-bought-by-teachers-retirement-system-of-the-state-of-kentucky.html.
Graco Company Profile
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.
Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.