Sawtooth Solutions LLC Increases Stake in Graco Inc. (GGG)

Sawtooth Solutions LLC lifted its stake in shares of Graco Inc. (NYSE:GGG) by 199.6% during the fourth quarter, HoldingsChannel reports. The firm owned 12,189 shares of the industrial products company’s stock after buying an additional 8,121 shares during the period. Sawtooth Solutions LLC’s holdings in Graco were worth $551,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. lifted its position in shares of Graco by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 2,385 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 1,590 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Graco by 53.5% during the fourth quarter. Meeder Asset Management Inc. now owns 3,174 shares of the industrial products company’s stock worth $144,000 after purchasing an additional 1,106 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Graco by 286.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,363 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 2,493 shares in the last quarter. Hexavest Inc. lifted its position in shares of Graco by 200.0% during the fourth quarter. Hexavest Inc. now owns 4,200 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Fiduciary Trust Co. acquired a new position in shares of Graco during the fourth quarter worth approximately $201,000. Institutional investors own 86.19% of the company’s stock.

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GGG stock opened at $44.47 on Friday. Graco Inc. has a twelve month low of $30.60 and a twelve month high of $49.69. The firm has a market cap of $7,653.71, a P/E ratio of 29.46, a P/E/G ratio of 2.41 and a beta of 1.17. The company has a quick ratio of 1.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.31.

Graco (NYSE:GGG) last announced its quarterly earnings data 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). Graco had a net margin of 17.12% and a return on equity of 40.08%. The business had revenue of $374.90 million during the quarter, compared to analyst estimates of $369.53 million. During the same quarter in the prior year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. equities analysts predict that Graco Inc. will post 1.78 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Monday, April 16th will be issued a $0.1325 dividend. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.53 annualized dividend and a yield of 1.19%. Graco’s dividend payout ratio (DPR) is presently 36.47%.

A number of equities analysts have recently issued reports on GGG shares. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Saturday, February 3rd. Deutsche Bank upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, January 23rd. Royal Bank of Canada restated a “hold” rating and issued a $49.00 price objective on shares of Graco in a report on Thursday, January 4th. Oppenheimer restated a “hold” rating on shares of Graco in a report on Thursday, December 28th. Finally, B. Riley restated a “hold” rating and issued a $46.67 price objective on shares of Graco in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.33.

In other Graco news, VP Karen Park Gallivan sold 27,000 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $48.34, for a total value of $1,305,180.00. Following the sale, the vice president now directly owns 72,305 shares in the company, valued at $3,495,223.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William J. Carroll sold 26,625 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $46.67, for a total transaction of $1,242,588.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,564 shares of company stock worth $4,225,595. Company insiders own 5.70% of the company’s stock.

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Graco Company Profile

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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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