Graco Inc. (NYSE:GGG) Shares Sold by Narwhal Capital Management

Narwhal Capital Management cut its holdings in Graco Inc. (NYSE:GGG) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,601 shares of the industrial products company’s stock after selling 8,712 shares during the period. Narwhal Capital Management’s holdings in Graco were worth $7,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Graco during the 3rd quarter worth $30,000. UMB Bank n.a. lifted its position in Graco by 187.8% in the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock valued at $43,000 after buying an additional 323 shares during the last quarter. Eastern Bank acquired a new position in Graco in the third quarter valued at about $59,000. Northwest Investment Counselors LLC purchased a new position in Graco during the third quarter worth about $67,000. Finally, Huntington National Bank increased its position in shares of Graco by 60.4% during the third quarter. Huntington National Bank now owns 953 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 359 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insider Activity at Graco

In related news, insider Caroline M. Chambers sold 8,280 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total transaction of $749,919.60. Following the sale, the insider now directly owns 57,612 shares in the company, valued at approximately $5,217,918.84. This represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $90.30, for a total transaction of $137,888.10. Following the transaction, the executive vice president now owns 6,374 shares of the company’s stock, valued at $575,572.20. This trade represents a 19.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,098 shares of company stock worth $2,776,150. Company insiders own 2.63% of the company’s stock.

Graco Stock Down 0.5 %

Shares of GGG opened at $85.62 on Monday. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $94.77. The company has a market cap of $14.46 billion, a P/E ratio of 30.25, a PEG ratio of 2.81 and a beta of 0.84. The firm’s 50 day moving average price is $86.55 and its 200 day moving average price is $84.61.

Graco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Monday, January 20th will be paid a $0.275 dividend. This is a boost from Graco’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, January 17th. Graco’s dividend payout ratio (DPR) is presently 38.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GGG. Robert W. Baird decreased their price objective on shares of Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. BNP Paribas upgraded Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Thursday, December 19th. Finally, Royal Bank of Canada lifted their price objective on Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Graco currently has a consensus rating of “Hold” and a consensus price target of $91.50.

Graco Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.