Carillon Tower Advisers Inc. acquired a new stake in shares of Graco Inc. (NYSE:GGG) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 947,349 shares of the industrial products company’s stock, valued at approximately $42,839,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Graco by 213.0% in the 4th quarter. BlackRock Inc. now owns 14,002,690 shares of the industrial products company’s stock valued at $633,202,000 after purchasing an additional 9,529,107 shares in the last quarter. Atlanta Capital Management Co. L L C increased its stake in shares of Graco by 171.7% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 3,907,999 shares of the industrial products company’s stock valued at $176,720,000 after purchasing an additional 2,469,513 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Graco by 162.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 3,025,330 shares of the industrial products company’s stock valued at $136,805,000 after purchasing an additional 1,872,855 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Graco by 190.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,578,707 shares of the industrial products company’s stock valued at $116,609,000 after purchasing an additional 1,689,416 shares in the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of Graco by 195.2% in the 4th quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock valued at $106,147,000 after purchasing an additional 1,552,175 shares in the last quarter. Institutional investors and hedge funds own 64.67% of the company’s stock.
In other news, VP Caroline M. Chambers sold 9,939 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.03, for a total transaction of $417,736.17. Following the transaction, the vice president now directly owns 30,615 shares in the company, valued at approximately $1,286,748.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christian E. Rothe sold 12,750 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $132.01, for a total value of $1,683,127.50. Following the completion of the transaction, the chief financial officer now owns 16,905 shares in the company, valued at $2,231,629.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,689 shares of company stock worth $6,646,134. Insiders own 5.70% of the company’s stock.
Graco Inc. (NYSE:GGG) opened at $45.00 on Monday. The firm has a market capitalization of $7,624.90, a P/E ratio of 29.35, a PEG ratio of 2.40 and a beta of 1.15. Graco Inc. has a twelve month low of $29.70 and a twelve month high of $49.69. The company has a current ratio of 2.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31.
Graco (NYSE:GGG) last issued its earnings results on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The company had revenue of $374.90 million for the quarter, compared to analyst estimates of $369.53 million. Graco had a return on equity of 40.08% and a net margin of 17.12%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. research analysts predict that Graco Inc. will post 1.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Monday, April 16th will be issued a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, April 13th. Graco’s dividend payout ratio is currently 36.47%.
ILLEGAL ACTIVITY WARNING: “947,349 Shares in Graco Inc. (GGG) Purchased by Carillon Tower Advisers Inc.” was first reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/3223359/947349-shares-in-graco-inc-ggg-purchased-by-carillon-tower-advisers-inc.html.
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG).
Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.