Graco Inc. $GGG Shares Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lifted its stake in shares of Graco Inc. (NYSE:GGG) by 10.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 152,679 shares of the industrial products company’s stock after buying an additional 14,896 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Graco were worth $12,663,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Graco during the fourth quarter valued at approximately $161,949,000. Bank of Montreal Can increased its holdings in shares of Graco by 1,636.9% in the 4th quarter. Bank of Montreal Can now owns 1,011,196 shares of the industrial products company’s stock valued at $82,888,000 after acquiring an additional 952,977 shares during the last quarter. Caisse de depot et placement du Quebec increased its holdings in shares of Graco by 236.4% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock valued at $108,711,000 after acquiring an additional 899,174 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Graco by 20,706.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock valued at $45,605,000 after acquiring an additional 553,688 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Graco by 51.8% during the 1st quarter. Hsbc Holdings PLC now owns 1,194,254 shares of the industrial products company’s stock valued at $101,061,000 after acquiring an additional 407,557 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Graco

In other news, Director Andrea Helen Simon acquired 1,240 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the acquisition, the director directly owned 1,240 shares in the company, valued at approximately $99,857.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.18% of the stock is currently owned by company insiders.

Graco Trading Up 0.0%

Shares of NYSE GGG opened at $74.61 on Monday. Graco Inc. has a 12-month low of $72.51 and a 12-month high of $95.69. The company has a market cap of $12.38 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 2.40 and a beta of 0.93. The stock’s 50 day simple moving average is $75.18 and its 200 day simple moving average is $82.90.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 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 the consensus estimate of $561.35 million. During the same quarter in the previous year, the company earned $0.70 earnings per share. Graco’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 annualized dividend and a dividend yield of 1.6%. Graco’s dividend payout ratio is currently 38.44%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GGG shares. Weiss Ratings cut Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. DA Davidson reiterated a “neutral” rating and set a $85.00 target price on shares of Graco in a research note on Monday, April 27th. Robert W. Baird dropped their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Wolfe Research downgraded shares of Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $92.00 price target (down from $95.00) on shares of Graco in a report on Thursday. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Graco has an average rating of “Hold” and a consensus target price of $93.50.

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.