Graco Inc. $GGG Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Graco Inc. (NYSE:GGG) by 37.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,942 shares of the industrial products company’s stock after purchasing an additional 37,050 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Graco were worth $11,507,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GGG. AE Wealth Management LLC lifted its stake in shares of Graco by 32.7% in the 4th quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock worth $32,652,000 after acquiring an additional 98,141 shares during the period. Comerica Bank increased its stake in shares of Graco by 54.1% during the fourth quarter. Comerica Bank now owns 172,328 shares of the industrial products company’s stock valued at $14,126,000 after acquiring an additional 60,486 shares during the period. Swiss Life Asset Management Ltd raised its holdings in Graco by 40.5% during the third quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock worth $3,869,000 after purchasing an additional 13,130 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Graco during the fourth quarter worth approximately $3,527,000. Finally, Kepler Cheuvreux Suisse SA acquired a new stake in Graco in the third quarter worth approximately $2,043,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Performance

Graco stock opened at $75.22 on Friday. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 2.42 and a beta of 0.93. Graco Inc. has a 1 year low of $73.15 and a 1 year high of $95.69. The firm’s 50 day moving average price is $76.31 and its two-hundred day moving average price is $83.53.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The company had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. Graco’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. As a group, equities analysts predict that Graco Inc. will post 3.1 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, July 20th. Graco’s dividend payout ratio is currently 38.44%.

Insider Activity at Graco

In related news, Director Andrea Helen Simon purchased 1,240 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the transaction, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GGG. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Graco in a research report on Friday, April 24th. DA Davidson reaffirmed a “neutral” rating and set a $85.00 target price on shares of Graco in a research note on Monday, April 27th. Weiss Ratings lowered Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Robert W. Baird dropped their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Graco currently has a consensus rating of “Hold” and a consensus price target of $94.25.

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.