Stifel Financial Corp Acquires 11,340 Shares of Graco Inc. (GGG)

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Stifel Financial Corp grew its holdings in Graco Inc. (NYSE:GGG) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,839 shares of the industrial products company’s stock after purchasing an additional 11,340 shares during the period. Stifel Financial Corp owned about 0.08% of Graco worth $5,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC purchased a new position in Graco during the third quarter worth about $213,000. JPMorgan Chase & Co. raised its holdings in Graco by 31.2% during the third quarter. JPMorgan Chase & Co. now owns 1,115,996 shares of the industrial products company’s stock worth $51,715,000 after purchasing an additional 265,581 shares in the last quarter. MML Investors Services LLC raised its holdings in Graco by 72.3% during the third quarter. MML Investors Services LLC now owns 8,612 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 3,615 shares in the last quarter. Piedmont Investment Advisors Inc. purchased a new position in Graco during the third quarter worth about $555,000. Finally, Keybank National Association OH raised its holdings in Graco by 78.3% during the third quarter. Keybank National Association OH now owns 16,821 shares of the industrial products company’s stock worth $779,000 after purchasing an additional 7,389 shares in the last quarter. Institutional investors own 84.92% of the company’s stock.

Shares of Graco stock opened at $47.54 on Friday. Graco Inc. has a 12-month low of $37.36 and a 12-month high of $49.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.47. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 2.49 and a beta of 0.97.

Graco (NYSE:GGG) last issued its earnings results on Monday, January 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.43. Graco had a net margin of 20.63% and a return on equity of 43.67%. The company had revenue of $406.40 million during the quarter, compared to analysts’ expectations of $404.14 million. During the same period last year, the company posted $0.34 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Graco Inc. will post 2.01 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a $0.16 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.64 dividend on an annualized basis and a yield of 1.35%. Graco’s dividend payout ratio (DPR) is presently 34.04%.

In other Graco news, insider Dale D. Johnson sold 90,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $47.85, for a total value of $4,306,500.00. Following the completion of the transaction, the insider now directly owns 302,873 shares of the company’s stock, valued at $14,492,473.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Angela F. Wordell sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $43.63, for a total transaction of $109,075.00. Following the transaction, the vice president now directly owns 10,802 shares of the company’s stock, valued at $471,291.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 295,038 shares of company stock valued at $13,952,569. 5.10% of the stock is currently owned by corporate insiders.

GGG has been the subject of several analyst reports. ValuEngine raised shares of Graco from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Zacks Investment Research cut shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, February 1st. Seaport Global Securities reaffirmed a “hold” rating on shares of Graco in a report on Wednesday, January 30th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $46.00 target price on shares of Graco in a report on Wednesday, January 30th. Finally, Jefferies Financial Group started coverage on shares of Graco in a report on Friday, January 25th. They issued a “hold” rating and a $46.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $46.20.

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About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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