Ilmarinen Mutual Pension Insurance Co Buys Shares of 26,000 Graco Inc. $GGG

Ilmarinen Mutual Pension Insurance Co purchased a new position in Graco Inc. (NYSE:GGG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 26,000 shares of the industrial products company’s stock, valued at approximately $2,131,000.

A number of other hedge funds have also bought and sold shares of GGG. Assetmark Inc. grew its stake 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 period. Field & Main Bank acquired a new stake in shares of Graco during the 4th quarter worth approximately $41,000. Geneos Wealth Management Inc. increased its stake 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 acquiring an additional 452 shares in the last quarter. Matrix Trust Co lifted its position in shares of Graco by 43.0% during the 4th quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 167 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in Graco by 4,384.6% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 583 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 570 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Price Performance

Shares of GGG stock opened at $75.52 on Friday. The firm has a 50-day moving average of $81.65 and a 200-day moving average of $84.73. The company has a market cap of $12.53 billion, a P/E ratio of 24.60, a P/E/G ratio of 2.44 and a beta of 0.96. Graco Inc. has a one year low of $74.24 and a one year high of $95.69.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The company had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. During the same quarter last year, the business posted $0.70 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts expect that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Insider Transactions at Graco

In other Graco news, Director Andrea Helen Simon bought 1,240 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were acquired at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GGG has been the topic of several research analyst reports. Weiss Ratings lowered shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Robert W. Baird cut their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. DA Davidson reissued a “neutral” rating and set a $85.00 target price on shares of Graco in a research note on Monday, April 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Graco currently has an average rating of “Hold” and a consensus price target of $94.25.

Graco 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.