Fenimore Asset Management Inc Has $91.21 Million Position in Graco Inc. $GGG

Fenimore Asset Management Inc boosted its stake in shares of Graco Inc. (NYSE:GGG) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,112,750 shares of the industrial products company’s stock after buying an additional 9,866 shares during the quarter. Graco makes up approximately 1.9% of Fenimore Asset Management Inc’s portfolio, making the stock its 22nd biggest position. Fenimore Asset Management Inc’s holdings in Graco were worth $91,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GGG. AE Wealth Management LLC boosted its position in Graco by 32.7% in the fourth quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock worth $32,652,000 after purchasing an additional 98,141 shares during the last quarter. Nordea Investment Management AB boosted its position in Graco by 432.6% in the third quarter. Nordea Investment Management AB now owns 85,654 shares of the industrial products company’s stock worth $7,263,000 after purchasing an additional 69,573 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Graco by 154.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 64,341 shares of the industrial products company’s stock worth $5,466,000 after purchasing an additional 39,031 shares during the last quarter. Raiffeisen Bank International AG boosted its position in Graco by 191.8% in the third quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company’s stock worth $744,000 after purchasing an additional 5,790 shares during the last quarter. Finally, Swiss Life Asset Management Ltd boosted its position in Graco by 40.5% in the third quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock worth $3,869,000 after purchasing an additional 13,130 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GGG has been the topic of several research reports. Robert W. Baird dropped their target price on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Jefferies Financial Group raised their target price on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. DA Davidson reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, April 27th. Weiss Ratings downgraded Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.25.

Insider Activity at Graco

In related news, EVP Kathryn L. Schoenrock sold 2,223 shares of Graco stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the sale, the executive vice president owned 7,846 shares of the company’s stock, valued at approximately $690,918.76. This trade represents a 22.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy R. White sold 1,469 shares of Graco stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the sale, the insider directly owned 51,430 shares in the company, valued at $4,664,701. This trade represents a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,394 shares of company stock worth $1,739,326 in the last three months. Corporate insiders own 2.18% of the company’s stock.

Graco Stock Down 1.4%

NYSE GGG opened at $79.17 on Friday. The stock’s 50-day moving average price is $86.83 and its 200-day moving average price is $85.42. Graco Inc. has a 52 week low of $78.87 and a 52 week high of $95.69. The company has a market capitalization of $13.14 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 2.53 and a beta of 0.96.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). The company had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. Research analysts anticipate that Graco Inc. will post 3.13 EPS for the current year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, April 13th. Graco’s dividend payout ratio (DPR) is 38.44%.

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.