Kepler Cheuvreux Suisse SA Makes New Investment in Graco Inc. $GGG

Kepler Cheuvreux Suisse SA purchased a new stake in shares of Graco Inc. (NYSE:GGG) in the 3rd quarter, HoldingsChannel reports. The firm purchased 24,051 shares of the industrial products company’s stock, valued at approximately $2,043,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Stonebridge Capital Advisors LLC increased its holdings in shares of Graco by 0.3% in the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after buying an additional 119 shares during the period. Fifth Third Bancorp lifted its stake in shares of Graco by 7.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 125 shares during the last quarter. ICW Investment Advisors LLC boosted its holdings in Graco by 4.6% during the 3rd quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 126 shares during the period. Jones Financial Companies Lllp grew its position in Graco by 7.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 135 shares during the last quarter. Finally, Viawealth LLC grew its position in Graco by 0.3% during the 3rd quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock worth $4,519,000 after acquiring an additional 137 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Graco

In other news, EVP Kathryn L. Schoenrock sold 2,223 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $88.06, for a total value of $195,757.38. Following the sale, the executive vice president directly owned 7,846 shares of the company’s stock, valued at $690,918.76. This represents a 22.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Angela F. Wordell sold 2,832 shares of Graco stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $93.22, for a total transaction of $263,999.04. Following the transaction, the executive vice president directly owned 13,360 shares of the company’s stock, valued at approximately $1,245,419.20. This trade represents a 17.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 19,394 shares of company stock worth $1,739,326. Corporate insiders own 2.19% of the company’s stock.

Graco Stock Performance

Graco stock opened at $88.01 on Thursday. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $95.69. The stock’s 50 day simple moving average is $89.47 and its two-hundred day simple moving average is $85.35. The stock has a market cap of $14.55 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 2.76 and a beta of 1.07.

Graco (NYSE:GGG) last released its earnings results on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The company had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. During the same quarter last year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco announced that its board has authorized a stock repurchase program on Friday, December 5th that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.18 annualized dividend and a yield of 1.3%. Graco’s dividend payout ratio (DPR) is currently 38.19%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GGG. KeyCorp reiterated a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Royal Bank Of Canada raised their target price on shares of Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Jefferies Financial Group lifted their target price on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. DA Davidson reiterated a “neutral” rating and set a $85.00 price target on shares of Graco in a report on Monday, February 2nd. Finally, Robert W. Baird set a $96.00 price target on shares of Graco in a research report on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Graco currently has an average rating of “Moderate Buy” and an average price target of $96.50.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.