Neuberger Berman Group LLC raised its stake in shares of Graco Inc. (NYSE:GGG) by 13.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 975,390 shares of the company’s stock after buying an additional 112,951 shares during the period. Neuberger Berman Group LLC’s holdings in Graco were worth $72,179,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of GGG. Creative Planning increased its position in shares of Graco by 4.4% in the third quarter. Creative Planning now owns 1,413 shares of the company’s stock valued at $105,000 after buying an additional 59 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Graco during the third quarter worth $126,000. Tower Research Capital LLC TRC increased its position in shares of Graco by 292.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the company’s stock worth $185,000 after buying an additional 1,741 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Graco by 4.6% in the second quarter. Fifth Third Bancorp now owns 2,476 shares of the company’s stock worth $196,000 after buying an additional 110 shares in the last quarter. Finally, Princeton Alpha Management LP bought a new position in shares of Graco during the second quarter worth $204,000. Institutional investors and hedge funds own 87.38% of the company’s stock.
Graco Inc. (NYSE:GGG) opened at 81.94 on Tuesday. The firm’s 50-day moving average is $76.54 and its 200 day moving average is $76.56. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 23.48 and a beta of 1.29. Graco Inc. has a 12-month low of $63.05 and a 12-month high of $86.62.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.06. Graco had a return on equity of 29.75% and a net margin of 15.20%. The company earned $327.20 million during the quarter, compared to analyst estimates of $331.66 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Graco’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts expect that Graco Inc. will post $3.41 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 2nd. Stockholders of record on Monday, October 17th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, October 13th. Graco’s payout ratio is 37.93%.
A number of brokerages recently issued reports on GGG. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Deutsche Bank AG began coverage on shares of Graco in a report on Tuesday, September 6th. They issued a “hold” rating and a $83.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, Graco currently has an average rating of “Hold” and a consensus target price of $83.75.
In other news, insider Patrick J. Mchale sold 11,500 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $74.19, for a total transaction of $853,185.00. Following the completion of the transaction, the insider now owns 142,230 shares of the company’s stock, valued at $10,552,043.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Carroll sold 3,600 shares of the business’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $81.37, for a total value of $292,932.00. Following the transaction, the director now directly owns 25,703 shares of the company’s stock, valued at approximately $2,091,453.11. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.
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.