Mason Street Advisors LLC purchased a new stake in Graco Inc. (NYSE:GGG) during the second quarter, Holdings Channel reports. The firm purchased 25,362 shares of the company’s stock, valued at approximately $2,003,000.
A number of other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Graco by 140.2% in the second quarter. Royal Bank of Canada now owns 71,837 shares of the company’s stock valued at $5,674,000 after buying an additional 41,924 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Graco by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 138,913 shares of the company’s stock worth $10,973,000 after buying an additional 1,294 shares during the last quarter. Lebenthal Holdings LLC increased its position in Graco by 304.8% in the second quarter. Lebenthal Holdings LLC now owns 21,140 shares of the company’s stock worth $1,670,000 after buying an additional 15,918 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Graco by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 214,334 shares of the company’s stock worth $16,931,000 after buying an additional 9,938 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC increased its position in Graco by 13.1% in the second quarter. Stonebridge Capital Advisors LLC now owns 2,827 shares of the company’s stock worth $223,000 after buying an additional 327 shares during the last quarter. Institutional investors own 91.42% of the company’s stock.
Shares of Graco Inc. (NYSE:GGG) traded up 0.66% during trading on Friday, reaching $82.96. 57,365 shares of the company traded hands. The stock has a market capitalization of $4.62 billion, a PE ratio of 23.77 and a beta of 1.29. The company has a 50-day moving average of $76.26 and a 200-day moving average of $76.60. Graco Inc. has a 12 month low of $63.05 and a 12 month high of $86.62.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.06. Graco had a net margin of 15.20% and a return on equity of 29.75%. The firm had revenue of $327.20 million for the quarter, compared to the consensus estimate of $331.66 million. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts forecast that Graco Inc. will post $3.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th were issued a $0.33 dividend. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.59%. Graco’s dividend payout ratio is currently 37.93%.
GGG has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Graco from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Deutsche Bank AG initiated coverage on shares of Graco in a report on Tuesday, September 6th. They set a “hold” rating and a $83.00 price objective for the company. Nine analysts have rated the stock with a hold rating, Graco presently has a consensus rating of “Hold” and a consensus price target of $83.75.
In other Graco news, insider Patrick J. Mchale sold 11,500 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $74.19, for a total value of $853,185.00. Following the transaction, the insider now directly owns 142,230 shares in the company, valued at $10,552,043.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark W. Sheahan sold 47,000 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $79.13, for a total transaction of $3,719,110.00. Following the completion of the transaction, the vice president now owns 66,223 shares in the company, valued at $5,240,225.99. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.
Graco Company Profile
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.