Graco Inc. (NYSE:GGG) Shares Bought by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans raised its stake in shares of Graco Inc. (NYSE:GGG) by 10.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,540 shares of the industrial products company’s stock after buying an additional 1,020 shares during the period. Thrivent Financial For Lutherans’ holdings in Graco were worth $992,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Creative Planning raised its stake in Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock worth $141,000 after buying an additional 76 shares during the last quarter. Mosaic Family Wealth LLC raised its stake in Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock worth $168,000 after buying an additional 62 shares during the last quarter. TLP Group LLC purchased a new stake in Graco during the first quarter worth $193,000. Canada Pension Plan Investment Board raised its stake in Graco by 425.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock worth $198,000 after buying an additional 1,700 shares during the last quarter. Finally, Park National Corp OH bought a new position in Graco during the first quarter worth approximately $203,000. 90.97% of the stock is currently owned by institutional investors.
Shares of Graco Inc. (NYSE GGG) traded down 0.10% during trading on Thursday, hitting $113.62. 220,436 shares of the stock traded hands. The company has a 50 day moving average of $110.30 and a 200-day moving average of $101.08. The company has a market cap of $6.36 billion, a PE ratio of 73.30 and a beta of 1.25. Graco Inc. has a 1-year low of $69.33 and a 1-year high of $116.75.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.32. The business had revenue of $379.50 million for the quarter, compared to analyst estimates of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. Graco’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. On average, equities analysts anticipate that Graco Inc. will post $4.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, July 13th. Graco’s payout ratio is 92.90%.
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GGG has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Wednesday, April 5th. Royal Bank Of Canada restated a “hold” rating and issued a $89.00 price target on shares of Graco in a research report on Tuesday, April 11th. TheStreet upgraded shares of Graco from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Deutsche Bank AG reiterated a “hold” rating and issued a $110.00 price objective (up from $105.00) on shares of Graco in a research report on Monday, June 5th. Finally, BidaskClub downgraded shares of Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Graco presently has a consensus rating of “Hold” and a consensus price target of $106.20.
In other news, VP Caroline M. Chambers sold 5,000 shares of Graco stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $109.45, for a total transaction of $547,250.00. Following the sale, the vice president now directly owns 10,159 shares of the company’s stock, valued at $1,111,902.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of Graco stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $1,407,830.00. Following the completion of the transaction, the vice president now directly owns 27,264 shares in the company, valued at $3,135,360. The disclosure for this sale can be found here. Insiders have sold 164,021 shares of company stock worth $10,331,434 over the last three months. Insiders own 5.70% of the company’s stock.
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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