Teacher Retirement System of Texas increased its stake in Graco Inc. (NYSE:GGG) by 13.7% during the second quarter, Holdings Channel reports. The institutional investor owned 7,816 shares of the company’s stock after buying an additional 941 shares during the period. Teacher Retirement System of Texas’ holdings in Graco were worth $617,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Creative Planning boosted its position in shares of Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock valued at $107,000 after buying an additional 165 shares in the last quarter. Princeton Alpha Management LP bought a new position in shares of Graco during the second quarter valued at $204,000. Park National Corp OH boosted its position in shares of Graco by 0.4% in the second quarter. Park National Corp OH now owns 2,733 shares of the company’s stock valued at $216,000 after buying an additional 11 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Graco by 73.9% in the second quarter. LS Investment Advisors LLC now owns 3,447 shares of the company’s stock valued at $272,000 after buying an additional 1,465 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in shares of Graco by 41.2% in the second quarter. Wesbanco Bank Inc. now owns 3,910 shares of the company’s stock valued at $309,000 after buying an additional 1,140 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.
Graco Inc. (NYSE:GGG) traded up 1.16% on Friday, reaching $74.00. The company’s stock had a trading volume of 295,278 shares. Graco Inc. has a 52 week low of $63.05 and a 52 week high of $86.62. The firm has a 50 day moving average price of $74.00 and a 200 day moving average price of $78.26. The stock has a market capitalization of $4.12 billion, a P/E ratio of 21.81 and a beta of 1.54.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 20th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.11. Graco had a net margin of 15.01% and a return on equity of 30.04%. The company earned $348.10 million during the quarter, compared to analysts’ expectations of $352.49 million. During the same period last year, the business posted $1.05 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that Graco Inc. will post $3.37 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Monday, October 17th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.78%. Graco’s dividend payout ratio (DPR) is 38.94%.
A number of research analysts recently commented on GGG shares. Zacks Investment Research cut Graco from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Deutsche Bank AG started coverage on Graco in a report on Tuesday, September 6th. They issued a “hold” rating and a $83.00 price objective on the stock. Finally, William Blair cut Graco from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $89.00 to $78.00 in a report on Thursday, July 21st. Nine analysts have rated the stock with a hold rating, Graco has a consensus rating of “Hold” and a consensus price target of $83.75.
In other news, insider Patrick J. Mchale sold 11,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $74.19, for a total transaction of $853,185.00. Following the completion of the transaction, the insider now directly owns 142,230 shares of the company’s stock, valued at approximately $10,552,043.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.60% of the company’s stock.
Graco Company Profile
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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