Russell Investments Group Ltd. Raises Stock Position in Graco Inc. (NYSE:GGG)

Russell Investments Group Ltd. increased its holdings in shares of Graco Inc. (NYSE:GGG – Get Rating) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 669,483 shares of the industrial products company’s stock after purchasing an additional 9,842 shares during the period. Russell Investments Group Ltd. owned approximately 0.40% of Graco worth $40,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont purchased a new position in shares of Graco during the third quarter worth $29,000. Tobam acquired a new stake in Graco during the second quarter valued at $32,000. Castle Wealth Management LLC acquired a new stake in Graco during the second quarter valued at $32,000. Eagle Bay Advisors LLC acquired a new stake in Graco during the second quarter valued at $35,000. Finally, Fifth Third Bancorp grew its position in Graco by 76.8% during the third quarter. Fifth Third Bancorp now owns 631 shares of the industrial products company’s stock valued at $38,000 after buying an additional 274 shares during the period. Hedge funds and other institutional investors own 85.85% of the company’s stock.

Graco Stock Up 0.7 %

Shares of NYSE GGG opened at $67.21 on Wednesday. The company’s 50-day simple moving average is $68.40 and its 200-day simple moving average is $66.01. Graco Inc. has a 52-week low of $56.48 and a 52-week high of $75.45. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80. The company has a quick ratio of 1.91, a current ratio of 2.99 and a debt-to-equity ratio of 0.04.

Graco (NYSE:GGG – Get Rating) last announced its earnings results on Wednesday, October 26th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Graco had a net margin of 21.37% and a return on equity of 25.74%. The business had revenue of $545.64 million for the quarter, compared to analyst estimates of $523.45 million. Equities analysts predict that Graco Inc. will post 2.6 EPS for the current fiscal year.

Graco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Wednesday, January 18th will be given a dividend of $0.235 per share. The ex-dividend date is Tuesday, January 17th. This is a positive change from Graco’s previous quarterly dividend of $0.21. This represents a $0.94 dividend on an annualized basis and a yield of 1.40%. Graco’s payout ratio is presently 35.88%.

Insider Buying and Selling

In related news, VP Angela F. Wordell sold 2,700 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $70.37, for a total transaction of $189,999.00. Following the transaction, the vice president now directly owns 12,372 shares in the company, valued at $870,617.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Angela F. Wordell sold 2,700 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $70.37, for a total transaction of $189,999.00. Following the transaction, the vice president now directly owns 12,372 shares in the company, valued at $870,617.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Caroline M. Chambers sold 19,041 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $69.95, for a total transaction of $1,331,917.95. Following the transaction, the insider now owns 48,599 shares in the company, valued at $3,399,500.05. The disclosure for this sale can be found here. 3.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GGG shares. StockNews.com upgraded shares of Graco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 18th. Royal Bank of Canada raised their price target on shares of Graco from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, November 14th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.50.

Graco Company Profile

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Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.