South Dakota Investment Council Has $1.56 Million Holdings in Graco Inc. $GGG

South Dakota Investment Council boosted its stake in Graco Inc. (NYSE:GGG) by 158.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,440 shares of the industrial products company’s stock after purchasing an additional 11,300 shares during the quarter. South Dakota Investment Council’s holdings in Graco were worth $1,561,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Graco by 15.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock worth $27,592,000 after buying an additional 44,573 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 452 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Graco by 97.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 870 shares during the period. Marshall Wace LLP raised its position in shares of Graco by 559.5% in the 2nd quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock valued at $9,293,000 after acquiring an additional 91,708 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Graco by 4.2% during the 2nd quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock worth $1,830,000 after acquiring an additional 852 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Performance

Shares of NYSE:GGG opened at $79.48 on Friday. Graco Inc. has a 52-week low of $72.51 and a 52-week high of $95.69. The company has a market capitalization of $12.87 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 2.48 and a beta of 0.93. The company has a 50-day simple moving average of $75.58 and a 200 day simple moving average of $82.52.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. The business had revenue of $590.55 million during the quarter, compared to analysts’ expectations of $608.06 million. Graco had a return on equity of 19.54% and a net margin of 23.53%.Graco’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. As a group, equities analysts forecast that Graco Inc. will post 3.22 earnings per share for the current year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, July 20th. Graco’s payout ratio is currently 37.11%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GGG shares. DA Davidson restated a “neutral” rating and set a $85.00 price objective on shares of Graco in a report on Monday, July 27th. Weiss Ratings lowered shares of Graco from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Royal Bank Of Canada lifted their price target on shares of Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Robert W. Baird set a $94.00 price target on shares of Graco in a report on Friday, July 24th. Finally, Wolfe Research lowered shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

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.