Oddo BHF Asset Management Sas Has $4.06 Million Holdings in Graco Inc. $GGG

Oddo BHF Asset Management Sas raised its position in shares of Graco Inc. (NYSE:GGG) by 65.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 49,484 shares of the industrial products company’s stock after purchasing an additional 19,595 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Graco were worth $4,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Graco by 3.2% in the 4th quarter. State Street Corp now owns 7,813,877 shares of the industrial products company’s stock valued at $640,503,000 after purchasing an additional 242,817 shares during the period. Geode Capital Management LLC lifted its stake in shares of Graco by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 4,652,241 shares of the industrial products company’s stock valued at $380,642,000 after purchasing an additional 261,126 shares during the period. Morgan Stanley lifted its stake in shares of Graco by 5.4% in the 4th quarter. Morgan Stanley now owns 4,057,036 shares of the industrial products company’s stock valued at $332,556,000 after purchasing an additional 206,949 shares during the period. Amundi lifted its stake in shares of Graco by 2.6% in the 3rd quarter. Amundi now owns 2,076,887 shares of the industrial products company’s stock valued at $176,016,000 after purchasing an additional 53,126 shares during the period. Finally, Norges Bank acquired a new position in shares of Graco in the 4th quarter valued at about $161,949,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Up 1.6%

Shares of NYSE:GGG opened at $76.32 on Wednesday. Graco Inc. has a twelve month low of $73.26 and a twelve month high of $95.69. The stock’s 50 day moving average is $79.21 and its 200-day moving average is $84.20. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.42 and a beta of 0.93.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The business had revenue of $540.14 million for 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. Equities research analysts anticipate that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th 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 1.5%. The ex-dividend date is Monday, July 20th. Graco’s dividend payout ratio (DPR) is currently 38.44%.

Insider Activity

In other Graco news, Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the acquisition, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GGG has been the topic of a number of recent analyst reports. DA Davidson reissued a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, April 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Weiss Ratings cut shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Robert W. Baird reduced their price target 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. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $94.25.

Graco Company 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.