Louisiana State Employees Retirement System Makes New Investment in Graco Inc. $GGG

Louisiana State Employees Retirement System bought a new stake in shares of Graco Inc. (NYSE:GGG) in the first quarter, Holdings Channel reports. The fund bought 48,100 shares of the industrial products company’s stock, valued at approximately $4,072,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 452 shares during the last quarter. Field & Main Bank purchased a new position in Graco in the 4th quarter valued at $41,000. Matrix Trust Co lifted its holdings in Graco by 43.0% in the 4th quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 167 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Graco by 41.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 219 shares during the last quarter. Finally, Accredited Wealth Management LLC boosted its stake in Graco by 1,837.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 775 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 735 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Insider Activity at Graco

In other Graco news, Director Andrea Helen Simon acquired 1,240 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the acquisition, the director owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.18% of the company’s stock.

Graco Stock Up 0.6%

Shares of GGG opened at $76.40 on Friday. Graco Inc. has a 52-week low of $73.15 and a 52-week high of $95.69. The stock has a fifty day simple moving average of $77.41 and a two-hundred day simple moving average of $83.79. The company has a market capitalization of $12.68 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.45 and a beta of 0.93.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same period in the previous year, the firm posted $0.70 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate 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 issued a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. Graco’s dividend payout ratio (DPR) is currently 38.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. DA Davidson reiterated a “neutral” rating and issued a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Weiss Ratings downgraded shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Robert W. Baird decreased their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Graco has an average rating of “Hold” and a consensus price target of $94.25.

Graco Company 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.