Graco Inc. $GGG Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its holdings in shares of Graco Inc. (NYSE:GGG) by 18.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,202 shares of the industrial products company’s stock after acquiring an additional 12,575 shares during the period. Nisa Investment Advisors LLC’s holdings in Graco were worth $6,899,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in Graco by 15.6% in the first quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after purchasing an additional 44,573 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Graco by 12.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,337,457 shares of the industrial products company’s stock worth $111,691,000 after buying an additional 146,424 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after buying an additional 452 shares in the last quarter. eCIO Inc. acquired a new stake in Graco in the 1st quarter valued at $32,000. Finally, Voya Investment Management LLC increased its holdings in Graco by 5.0% in the 1st quarter. Voya Investment Management LLC now owns 31,550 shares of the industrial products company’s stock worth $2,635,000 after acquiring an additional 1,516 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Up 0.8%

Shares of GGG opened at $85.87 on Friday. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $89.67. The stock has a market cap of $14.24 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 2.71 and a beta of 1.09. The firm’s fifty day moving average is $82.47 and its two-hundred day moving average is $84.00.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $543.36 million during the quarter, compared to analysts’ expectations of $563.07 million. Graco had a return on equity of 18.89% and a net margin of 22.72%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, research analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Graco announced that its board has approved a stock repurchase plan on Friday, December 5th that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Graco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Monday, January 19th will be paid a $0.295 dividend. This is a positive change from Graco’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, January 16th. This represents a $1.18 dividend on an annualized basis and a yield of 1.4%. Graco’s dividend payout ratio is 40.27%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GGG. Robert W. Baird set a $89.00 price objective on shares of Graco in a report on Friday, October 24th. Weiss Ratings downgraded shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Graco in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Graco presently has an average rating of “Hold” and a consensus target price of $87.00.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.