Kepler Cheuvreux Suisse SA Acquires New Position in Graco Inc. $GGG

Kepler Cheuvreux Suisse SA bought a new position in Graco Inc. (NYSE:GGG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,051 shares of the industrial products company’s stock, valued at approximately $2,043,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after buying an additional 44,573 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 452 shares during the period. Savant Capital LLC grew its position in shares of Graco by 416.2% in the second quarter. Savant Capital LLC now owns 12,528 shares of the industrial products company’s stock valued at $1,077,000 after purchasing an additional 10,101 shares in the last quarter. Aviva PLC grew its position in shares of Graco by 5.6% in the second quarter. Aviva PLC now owns 124,185 shares of the industrial products company’s stock valued at $10,676,000 after purchasing an additional 6,579 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Graco by 14.9% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,478 shares of the industrial products company’s stock valued at $13,624,000 after purchasing an additional 20,535 shares during the period. Institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

Shares of NYSE:GGG opened at $88.01 on Thursday. The firm has a market capitalization of $14.55 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 2.76 and a beta of 1.07. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $95.69. The firm has a fifty day moving average of $89.47 and a 200 day moving average of $85.35.

Graco (NYSE:GGG) last released its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The business had revenue of $593.16 million for the quarter, compared to the consensus estimate of $591.99 million. During the same quarter last year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, sell-side analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

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

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, April 13th. Graco’s dividend payout ratio (DPR) is currently 38.19%.

Insider Transactions at Graco

In related news, insider Timothy R. White sold 1,469 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $90.70, for a total value of $133,238.30. Following the completion of the sale, the insider owned 51,430 shares in the company, valued at $4,664,701. The trade was a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Angela F. Wordell sold 2,832 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $93.22, for a total value of $263,999.04. Following the completion of the sale, the executive vice president directly owned 13,360 shares of the company’s stock, valued at approximately $1,245,419.20. This represents a 17.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 19,394 shares of company stock valued at $1,739,326. 2.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on GGG shares. DA Davidson restated a “neutral” rating and issued a $85.00 target price on shares of Graco in a research note on Monday, February 2nd. Robert W. Baird set a $96.00 price target on shares of Graco in a report on Wednesday, January 28th. Jefferies Financial Group raised their price objective on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Weiss Ratings raised shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.50.

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.