Panagora Asset Management Inc. grew its holdings in Graco Inc. (NYSE:GGG – Get Rating) by 1,006.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,286 shares of the industrial products company’s stock after purchasing an additional 188,556 shares during the period. Panagora Asset Management Inc. owned about 0.12% of Graco worth $16,711,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Amplius Wealth Advisors LLC purchased a new position in shares of Graco in the 4th quarter worth $30,000. Duncker Streett & Co. Inc. boosted its stake in shares of Graco by 51.7% in the 4th quarter. Duncker Streett & Co. Inc. now owns 408 shares of the industrial products company’s stock worth $33,000 after buying an additional 139 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Graco in the 4th quarter worth $35,000. Tobam purchased a new position in shares of Graco in the 3rd quarter worth $37,000. Finally, Kings Point Capital Management purchased a new position in shares of Graco in the 3rd quarter worth $44,000. 84.53% of the stock is owned by institutional investors and hedge funds.
Shares of Graco stock traded down $1.50 during trading hours on Tuesday, hitting $59.69. The company’s stock had a trading volume of 979,777 shares, compared to its average volume of 699,219. The business has a 50 day moving average price of $67.47 and a two-hundred day moving average price of $72.73. Graco Inc. has a 12-month low of $59.31 and a 12-month high of $81.09. The company has a market cap of $10.10 billion, a PE ratio of 23.97, a PEG ratio of 2.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.89 and a current ratio of 2.98.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 4th. Stockholders of record on Monday, April 18th were issued a $0.21 dividend. The ex-dividend date was Thursday, April 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.41%. Graco’s dividend payout ratio (DPR) is 33.74%.
In other Graco news, Director J Kevin Gilligan sold 13,938 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $63.50, for a total transaction of $885,063.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David M. Lowe sold 28,001 shares of the business’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $70.70, for a total value of $1,979,670.70. The disclosure for this sale can be found here. Insiders own 3.52% of the company’s stock.
GGG has been the topic of a number of research reports. DA Davidson restated a “neutral” rating on shares of Graco in a research note on Thursday, April 28th. Seaport Res Ptn reiterated a “neutral” rating on shares of Graco in a research report on Wednesday, February 2nd. Robert W. Baird lowered their target price on Graco from $80.00 to $71.00 in a research report on Friday, April 29th. StockNews.com downgraded Graco from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research downgraded Graco from a “buy” rating to a “hold” rating and set a $73.00 target price on the stock. in a research report on Thursday, April 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.67.
Graco Profile (Get Rating)
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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