Fox Run Management L.L.C. Makes New Investment in Graco Inc. $GGG

Fox Run Management L.L.C. acquired a new stake in Graco Inc. (NYSE:GGG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,990 shares of the industrial products company’s stock, valued at approximately $509,000.

Several other large investors have also recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in shares of Graco during the 3rd quarter valued at about $29,000. NewSquare Capital LLC increased its position in Graco by 320.7% during the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 263 shares during the last quarter. Assetmark Inc. increased its position in Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 139 shares during the last quarter. CX Institutional raised its stake in Graco by 316.7% during the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 361 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 452 shares during the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Graco Stock Performance

Graco stock opened at $93.81 on Friday. The firm has a market capitalization of $15.51 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 2.95 and a beta of 1.08. Graco Inc. has a one year low of $72.06 and a one year high of $95.69. The stock’s 50 day moving average price is $88.30 and its 200 day moving average price is $85.08.

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

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 issued a $0.295 dividend. The ex-dividend date is Monday, April 13th. This represents a $1.18 dividend on an annualized basis and a yield of 1.3%. Graco’s payout ratio is currently 38.19%.

Graco announced that its board has authorized a share repurchase program on Friday, December 5th that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GGG shares. Royal Bank Of Canada increased their target price on Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. KeyCorp restated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Weiss Ratings upgraded Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. DA Davidson reissued a “neutral” rating and set a $85.00 target price on shares of Graco in a research 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.50.

Insider Activity

In other news, EVP Angela F. Wordell sold 2,832 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $93.22, for a total transaction of $263,999.04. Following the completion of the sale, the executive vice president directly owned 13,360 shares in the company, valued at $1,245,419.20. This trade represents a 17.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of Graco stock in a transaction dated Monday, February 2nd. The stock was 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 in the company, valued at approximately $690,918.76. The trade was a 22.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 19,394 shares of company stock valued at $1,739,326. Corporate insiders own 2.19% of the company’s stock.

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.