Louisiana State Employees Retirement System Makes New Investment in Graco Inc. $GGG

Louisiana State Employees Retirement System acquired a new stake in Graco Inc. (NYSE:GGG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 48,100 shares of the industrial products company’s stock, valued at approximately $4,072,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Field & Main Bank acquired a new position in Graco during the fourth quarter valued at $41,000. Geneos Wealth Management Inc. grew its position in Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares during the period. Matrix Trust Co grew its position in Graco by 43.0% during the 4th quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 167 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Graco by 41.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company’s stock valued at $62,000 after buying an additional 219 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Graco during the 4th quarter valued at about $63,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on GGG shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Graco in a report on Friday, April 24th. DA Davidson restated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Weiss Ratings cut shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Robert W. Baird cut their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.25.

Graco Stock Up 0.6%

Shares of Graco stock opened at $76.40 on Friday. The firm has a market cap of $12.68 billion, a PE ratio of 24.89, a P/E/G ratio of 2.45 and a beta of 0.93. Graco Inc. has a twelve month low of $73.15 and a twelve month high of $95.69. The business has a 50-day moving average price of $77.41 and a 200 day moving average price of $83.79.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). The business had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. On average, sell-side analysts expect that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.5%. Graco’s dividend payout ratio (DPR) is currently 38.44%.

Insider Buying and Selling

In related news, Director Andrea Helen Simon purchased 1,240 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average price of $80.53 per share, with a total value of $99,857.20. Following the acquisition, the director owned 1,240 shares in the company, valued at $99,857.20. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.18% of the company’s stock.

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.