BB&T Securities LLC Boosts Stake in Graco Inc. (GGG)
BB&T Securities LLC boosted its stake in Graco Inc. (NYSE:GGG) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,930 shares of the industrial products company’s stock after buying an additional 36 shares during the period. BB&T Securities LLC’s holdings in Graco were worth $757,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in shares of Graco by 106.1% in the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $123,000 after buying an additional 578 shares during the last quarter. Creative Planning raised its position in shares of Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock valued at $141,000 after buying an additional 76 shares during the last quarter. Mosaic Family Wealth LLC raised its position in shares of Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock valued at $168,000 after buying an additional 62 shares during the last quarter. TLP Group LLC purchased a new position in shares of Graco during the first quarter valued at $193,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Graco by 425.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock valued at $198,000 after buying an additional 1,700 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.
Graco Inc. (NYSE GGG) opened at 113.66 on Thursday. The stock’s 50 day moving average price is $111.77 and its 200-day moving average price is $104.07. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 72.12 and a beta of 1.25. Graco Inc. has a one year low of $69.33 and a one year high of $116.75.
Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The company had revenue of $379.50 million during the quarter, compared to analyst estimates of $369.36 million. During the same quarter last year, the business posted $0.89 EPS. Graco’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts forecast that Graco Inc. will post $4.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.27%. Graco’s payout ratio is currently 92.90%.
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Several research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $104.00 target price on shares of Graco in a research report on Monday, June 5th. BidaskClub raised Graco from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Wolfe Research reaffirmed a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Monday, July 31st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $110.00 target price (up from $105.00) on shares of Graco in a research report on Monday, June 5th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $106.20.
In related news, VP Jeffrey P. Johnson sold 28,000 shares of Graco stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $113.00, for a total value of $3,164,000.00. Following the completion of the transaction, the vice president now directly owns 42,213 shares in the company, valued at approximately $4,770,069. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Etchart sold 793 shares of Graco stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $113.90, for a total transaction of $90,322.70. Following the completion of the transaction, the director now owns 11,224 shares of the company’s stock, valued at $1,278,413.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,021 shares of company stock valued at $6,476,784. 5.70% of the stock is currently owned by company insiders.
Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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