Disciplined Growth Investors Inc. MN Raises Stake in Graco Inc. (NYSE:GGG)

Financial News Live · Sep 10, 2022 23:02

Disciplined Growth Investors Inc. MN boosted its holdings in shares of Graco Inc. (NYSE:GGG – Get Rating) by 0.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 663,950 shares of the industrial products company's stock after purchasing an additional 807 shares during the period. Disciplined Growth Investors Inc. MN's holdings in Graco were worth $46,291,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of GGG. Rockefeller Capital Management L.P. grew its position in Graco by 400.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 355 shares of the industrial products company's stock worth $27,000 after purchasing an additional 284 shares during the last quarter. Prospera Financial Services Inc purchased a new position in Graco during the 1st quarter worth $29,000. Allworth Financial LP grew its position in Graco by 804.3% during the 1st quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock worth $30,000 after purchasing an additional 378 shares during the last quarter. Artemis Wealth Advisors LLC purchased a new position in Graco during the 1st quarter worth $35,000. Finally, Okabena Investment Services Inc. acquired a new stake in shares of Graco in the 4th quarter worth $44,000. 86.47% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several analysts have recently commented on the stock. DA Davidson reduced their target price on shares of Graco to $70.00 in a research note on Tuesday, August 9th. Morgan Stanley reduced their target price on shares of Graco from $80.00 to $70.00 and set an "equal weight" rating for the company in a research note on Thursday, June 9th. Finally, Robert W. Baird cut shares of Graco from an "outperform" rating to a "neutral" rating and set a $61.00 target price for the company. in a research note on Thursday, July 14th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $71.00.

Insider Activity at Graco

In other Graco news, Director Eric Etchart sold 6,000 shares of the firm's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $67.20, for a total transaction of $403,200.00. Following the completion of the transaction, the director now directly owns 31,403 shares in the company, valued at approximately $2,110,281.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Graco news, Director Eric Etchart sold 6,000 shares of the firm's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $67.20, for a total transaction of $403,200.00. Following the completion of the transaction, the director now directly owns 31,403 shares in the company, valued at approximately $2,110,281.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David M. Ahlers sold 44,949 shares of the firm's stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $70.77, for a total transaction of $3,181,040.73. Following the transaction, the executive vice president now owns 65,135 shares of the company's stock, valued at $4,609,603.95. The disclosure for this sale can be found here. Insiders sold 56,949 shares of company stock worth $3,936,081 over the last 90 days. Company insiders own 3.52% of the company's stock.

Graco Price Performance

Shares of NYSE GGG traded up $0.64 during midday trading on Friday, hitting $66.17. The company had a trading volume of 330,863 shares, compared to its average volume of 444,699. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.04. Graco Inc. has a twelve month low of $56.48 and a twelve month high of $81.09. The business has a 50-day simple moving average of $64.68 and a two-hundred day simple moving average of $64.85. The firm has a market capitalization of $11.19 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 3.16 and a beta of 0.78.

Graco (NYSE:GGG – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. Graco had a net margin of 21.38% and a return on equity of 25.73%. The firm had revenue of $548.55 million during the quarter, compared to analysts' expectations of $533.49 million. During the same quarter last year, the business earned $0.62 earnings per share. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Graco Inc. will post 2.59 earnings per share for the current year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 3rd. Investors of record on Monday, July 18th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Friday, July 15th. Graco's dividend payout ratio (DPR) is 33.07%.

Graco Company Profile

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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.