Exchange Traded Concepts LLC raised its position in Graco Inc. (NYSE:GGG – Free Report) by 72.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,173 shares of the industrial products company’s stock after buying an additional 1,756 shares during the period. Exchange Traded Concepts LLC’s holdings in Graco were worth $360,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Silicon Valley Capital Partners acquired a new position in Graco in the 1st quarter worth about $25,000. Ameritas Advisory Services LLC purchased a new position in shares of Graco during the 1st quarter valued at approximately $27,000. Global Retirement Partners LLC grew its stake in Graco by 52.5% in the 1st quarter. Global Retirement Partners LLC now owns 421 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 145 shares during the period. Money Concepts Capital Corp increased its holdings in Graco by 569.7% in the 4th quarter. Money Concepts Capital Corp now owns 509 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 433 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Graco during the second quarter worth $35,000. 84.94% of the stock is owned by hedge funds and other institutional investors.
Graco Price Performance
GGG opened at $74.81 on Friday. The company’s 50 day simple moving average is $76.08 and its two-hundred day simple moving average is $77.79. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82. Graco Inc. has a 1-year low of $58.17 and a 1-year high of $87.94.
Graco Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 16th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, October 13th. Graco’s payout ratio is currently 31.97%.
Insiders Place Their Bets
In other news, Director Sant R. William Van sold 30,870 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $75.08, for a total value of $2,317,719.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Graco news, Director Sant R. William Van sold 30,870 shares of Graco stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $75.08, for a total value of $2,317,719.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark W. Sheahan purchased 1,263 shares of the stock in a transaction dated Monday, July 31st. The shares were acquired at an average price of $79.04 per share, with a total value of $99,827.52. Following the completion of the acquisition, the chief executive officer now owns 62,986 shares in the company, valued at approximately $4,978,413.44. The disclosure for this purchase can be found here. 2.98% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts have recently commented on GGG shares. Royal Bank of Canada cut their target price on shares of Graco from $94.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. StockNews.com initiated coverage on Graco in a research note on Thursday. They set a “buy” rating for the company. Finally, BNP Paribas assumed coverage on Graco in a research report on Thursday. They issued a “neutral” rating and a $73.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.50.
Get Our Latest Stock Report on Graco
Graco Company Profile
Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.
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