Arbejdsmarkedets Tillaegspension Invests $14.84 Million in Graco Inc. $GGG

Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Graco Inc. (NYSE:GGG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 175,307 shares of the industrial products company’s stock, valued at approximately $14,840,000.

A number of other large investors have also recently made changes to their positions in GGG. Goldman Sachs Group Inc. boosted its stake in shares of Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock worth $27,592,000 after buying an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Graco by 97.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 870 shares during the period. Marshall Wace LLP boosted its stake in shares of Graco by 559.5% in the second quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock worth $9,293,000 after acquiring an additional 91,708 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Graco by 4.2% in the second quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock worth $1,830,000 after buying an additional 852 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Andrea Helen Simon purchased 1,240 shares of Graco stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $80.53 per share, with a total value of $99,857.20. Following the transaction, the director owned 1,240 shares in the company, valued at approximately $99,857.20. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.18% of the company’s stock.

Graco Stock Performance

Shares of NYSE GGG opened at $73.85 on Tuesday. The stock has a 50 day moving average price of $75.53 and a 200 day moving average price of $83.15. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 2.38 and a beta of 0.93. Graco Inc. has a 52-week low of $72.51 and a 52-week high of $95.69.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). The firm had revenue of $540.14 million during the quarter, compared to analysts’ expectations of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.Graco’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 earnings per share. Analysts forecast that Graco Inc. will post 3.1 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. Graco’s payout ratio is 38.44%.

Wall Street Analyst Weigh In

GGG has been the subject of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Graco in a report on Friday, April 24th. DA Davidson reiterated a “neutral” rating and set a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Weiss Ratings lowered Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Robert W. Baird lowered their price target on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, Wolfe Research lowered shares of Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.25.

About Graco

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.