Graco Inc. $GGG Stake Reduced by Snyder Capital Management L P

Snyder Capital Management L P cut its holdings in shares of Graco Inc. (NYSE:GGG) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 833,641 shares of the industrial products company’s stock after selling 13,899 shares during the period. Snyder Capital Management L P’s holdings in Graco were worth $70,826,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GGG. Root Financial Partners LLC acquired a new position in shares of Graco in the third quarter worth about $29,000. NewSquare Capital LLC raised its holdings in shares of Graco by 320.7% during the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 263 shares in the last quarter. CX Institutional boosted its position in Graco by 316.7% during the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 361 shares during the last quarter. Assetmark Inc. grew its stake in Graco by 42.6% in the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Graco by 982.6% in 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 last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Kathryn L. Schoenrock sold 2,223 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $88.06, for a total value of $195,757.38. Following the sale, the executive vice president owned 7,846 shares in the company, valued at approximately $690,918.76. This trade represents a 22.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Angela F. Wordell sold 2,832 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $93.22, for a total transaction of $263,999.04. Following the completion of the sale, the executive vice president owned 13,360 shares in the company, valued at $1,245,419.20. This represents a 17.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,394 shares of company stock valued at $1,739,326 over the last ninety days. 2.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. KeyCorp reissued a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Jefferies Financial Group boosted their target price on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Weiss Ratings upgraded shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Robert W. Baird set a $96.00 price objective on shares of Graco in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada increased their target price on shares of Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.50.

Graco Trading Up 0.6%

Shares of Graco stock opened at $93.01 on Thursday. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $95.69. The firm has a fifty day simple moving average of $88.89 and a 200-day simple moving average of $85.24. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.90 and a beta of 1.07.

Graco (NYSE:GGG) last released its earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Graco had a net margin of 23.33% and a return on equity of 19.49%. The firm had revenue of $593.16 million during the quarter, compared to analyst estimates of $591.99 million. During the same quarter in the previous year, the business earned $0.64 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, research analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco announced that its board has authorized a share repurchase plan on Friday, December 5th that authorizes the company to buyback 15,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, April 13th. Graco’s payout ratio is currently 38.19%.

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.