Graco Inc. (GGG) Shares Sold by Retirement Systems of Alabama

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Retirement Systems of Alabama lessened its holdings in shares of Graco Inc. (NYSE:GGG) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 381,839 shares of the industrial products company’s stock after selling 4,199 shares during the quarter. Retirement Systems of Alabama owned 0.23% of Graco worth $15,980,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GGG. Moody National Bank Trust Division bought a new position in Graco during the 4th quarter worth about $73,000. Bank of Montreal Can increased its holdings in Graco by 0.8% during the 3rd quarter. Bank of Montreal Can now owns 229,408 shares of the industrial products company’s stock worth $10,631,000 after purchasing an additional 1,782 shares in the last quarter. Signaturefd LLC increased its holdings in Graco by 727.8% during the 2nd quarter. Signaturefd LLC now owns 2,235 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 1,965 shares in the last quarter. First Merchants Corp increased its holdings in Graco by 5.0% during the 3rd quarter. First Merchants Corp now owns 42,620 shares of the industrial products company’s stock worth $1,975,000 after purchasing an additional 2,015 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in Graco by 0.5% during the 2nd quarter. Macquarie Group Ltd. now owns 413,242 shares of the industrial products company’s stock worth $18,687,000 after purchasing an additional 2,055 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Graco stock opened at $43.06 on Friday. Graco Inc. has a 52 week low of $37.36 and a 52 week 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 P/E ratio of 23.73, 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 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. Graco had a return on equity of 42.19% and a net margin of 18.73%. The business had revenue of $415.94 million during the quarter, compared to analysts’ expectations of $403.62 million. As a group, sell-side analysts predict that Graco Inc. will post 1.89 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Tuesday, January 22nd will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, January 18th. This represents a $0.64 dividend on an annualized basis and a yield of 1.49%. This is a boost from Graco’s previous quarterly dividend of $0.13. Graco’s dividend payout ratio (DPR) is presently 37.06%.

A number of research firms have issued reports on GGG. Royal Bank of Canada reiterated a “hold” rating and set a $45.00 target price on shares of Graco in a report on Wednesday, December 19th. Oppenheimer restated a “hold” rating on shares of Graco in a report on Monday, October 29th. SunTrust Banks restated a “hold” rating and issued a $45.00 price objective on shares of Graco in a report on Monday, October 29th. Zacks Investment Research upgraded Graco from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Friday, October 26th. Finally, ValuEngine cut Graco from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Graco has a consensus rating of “Hold” and a consensus target price 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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