1,566 Shares in Graco Inc. (NYSE:GGG) Bought by Millburn Ridgefield Corp

Millburn Ridgefield Corp bought a new position in shares of Graco Inc. (NYSE:GGG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,566 shares of the industrial products company’s stock, valued at approximately $137,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GGG. M&G Plc grew its position in shares of Graco by 2.0% in the second quarter. M&G Plc now owns 483,535 shares of the industrial products company’s stock valued at $38,199,000 after purchasing an additional 9,673 shares during the period. Natixis Advisors LLC increased its stake in Graco by 254.8% during the 3rd quarter. Natixis Advisors LLC now owns 195,533 shares of the industrial products company’s stock worth $17,111,000 after buying an additional 140,417 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Graco by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 328,306 shares of the industrial products company’s stock valued at $28,730,000 after acquiring an additional 8,485 shares during the last quarter. KBC Group NV lifted its position in shares of Graco by 25.8% in the third quarter. KBC Group NV now owns 31,991 shares of the industrial products company’s stock valued at $2,800,000 after acquiring an additional 6,571 shares in the last quarter. Finally, Private Wealth Partners LLC acquired a new stake in shares of Graco in the third quarter worth approximately $876,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. DA Davidson reissued a “neutral” rating and issued a $79.00 price objective on shares of Graco in a research note on Friday, September 27th. Royal Bank of Canada decreased their price target on shares of Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Robert W. Baird dropped their price objective on shares of Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $89.25.

Insider Activity

In related news, insider Peter J. O’shea sold 18,075 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $88.76, for a total value of $1,604,337.00. Following the sale, the insider now owns 14,516 shares in the company, valued at approximately $1,288,440.16. The trade was a 55.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David J. Thompson sold 3,216 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $88.31, for a total value of $284,004.96. Following the transaction, the insider now owns 27,246 shares of the company’s stock, valued at $2,406,094.26. This trade represents a 10.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,098 shares of company stock valued at $2,776,150 in the last quarter. Insiders own 2.63% of the company’s stock.

Graco Trading Up 0.3 %

Shares of GGG stock opened at $91.02 on Wednesday. Graco Inc. has a twelve month low of $77.49 and a twelve month high of $94.77. The company’s 50-day moving average price is $86.73 and its 200-day moving average price is $83.11. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 3.14 and a beta of 0.83.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $519.21 million during the quarter, compared to analysts’ expectations of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. As a group, equities research analysts predict that Graco Inc. will post 2.89 EPS for the current year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a yield of 1.12%. Graco’s dividend payout ratio is currently 36.04%.

Graco Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.