Graco Inc. (GGG) Position Decreased by JLB & Associates Inc.

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JLB & Associates Inc. lessened its stake in shares of Graco Inc. (NYSE:GGG) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 298,224 shares of the industrial products company’s stock after selling 987 shares during the period. Graco accounts for 3.0% of JLB & Associates Inc.’s investment portfolio, making the stock its 6th largest holding. JLB & Associates Inc.’s holdings in Graco were worth $12,480,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WCM Investment Management CA raised its holdings in Graco by 3,426.8% in the 3rd quarter. WCM Investment Management CA now owns 1,611,268 shares of the industrial products company’s stock valued at $74,666,000 after acquiring an additional 1,565,581 shares during the last quarter. Capital International Investors acquired a new stake in Graco in the 3rd quarter valued at about $19,463,000. JPMorgan Chase & Co. raised its holdings in Graco by 31.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,115,996 shares of the industrial products company’s stock valued at $51,715,000 after acquiring an additional 265,581 shares during the last quarter. Millennium Management LLC raised its holdings in Graco by 147.5% in the 2nd quarter. Millennium Management LLC now owns 366,802 shares of the industrial products company’s stock valued at $16,587,000 after acquiring an additional 218,570 shares during the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new stake in Graco in the 3rd quarter valued at about $1,684,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Shares of Graco stock traded down $0.52 during mid-day trading on Friday, hitting $42.54. The stock had a trading volume of 262,887 shares, compared to its average volume of 690,583. Graco Inc. has a 12-month low of $37.36 and a 12-month high of $49.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.77 and a quick ratio of 1.71. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 2.64 and a beta of 1.11.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. Graco had a net margin of 18.73% and a return on equity of 42.19%. The business had revenue of $415.94 million during the quarter, compared to analysts’ expectations of $403.62 million. Equities analysts expect that Graco Inc. will post 1.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Stockholders of record on Tuesday, January 22nd will be paid a $0.16 dividend. This is a boost from Graco’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, January 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.50%. Graco’s dividend payout ratio is 37.06%.

A number of analysts have commented on GGG shares. Zacks Investment Research downgraded shares of Graco from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. ValuEngine downgraded shares of Graco from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. SunTrust Banks reiterated a “hold” rating and issued a $45.00 price objective on shares of Graco in a report on Monday, October 29th. Oppenheimer reiterated a “hold” rating on shares of Graco in a report on Monday, October 29th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $45.00 price objective on shares of Graco in a report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.17.

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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 worldwide. Its Industrial segment offers proportioning systems that are used 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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