Jane Street Group LLC Cuts Stake in Graco Inc. (NYSE:GGG)

Jane Street Group LLC decreased its holdings in Graco Inc. (NYSE:GGG) by 19.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,325 shares of the industrial products company’s stock after selling 12,862 shares during the period. Jane Street Group LLC’s holdings in Graco were worth $4,410,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Graco in the 4th quarter valued at $25,000. TD Private Client Wealth LLC boosted its stake in shares of Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. National Pension Service purchased a new stake in shares of Graco in the 4th quarter valued at $34,000. Whipplewood Advisors LLC purchased a new stake in shares of Graco in the 4th quarter valued at $37,000. Finally, Brooklyn Investment Group boosted its position in Graco by 39.1% during the 4th quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock valued at $41,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

Shares of GGG stock opened at $83.28 on Monday. The firm has a market cap of $13.92 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.85 and a beta of 1.09. The business’s 50 day moving average price is $81.58 and its 200-day moving average price is $84.46. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Graco had a net margin of 23.00% and a return on equity of 19.38%. The business had revenue of $528.28 million for the quarter, compared to analysts’ expectations of $526.98 million. During the same quarter in the previous year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th were given a $0.275 dividend. The ex-dividend date was Monday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.32%. Graco’s dividend payout ratio is 38.87%.

Analyst Upgrades and Downgrades

Separately, DA Davidson set a $85.00 price target on shares of Graco in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $93.00.

Graco Company 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.