Graco Inc. $GGG Holdings Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its holdings in shares of Graco Inc. (NYSE:GGG) by 7.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 198,009 shares of the industrial products company’s stock after buying an additional 14,015 shares during the period. Pacer Advisors Inc.’s holdings in Graco were worth $16,823,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Addenda Capital Inc. acquired a new position in shares of Graco in the 3rd quarter valued at about $4,837,000. Generali Asset Management SPA SGR acquired a new stake in shares of Graco during the second quarter worth approximately $3,806,000. WealthPlan Investment Management LLC grew its position in Graco by 10.6% during the second quarter. WealthPlan Investment Management LLC now owns 129,189 shares of the industrial products company’s stock valued at $11,106,000 after purchasing an additional 12,352 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Graco by 82.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 180,509 shares of the industrial products company’s stock valued at $16,027,000 after purchasing an additional 81,706 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Graco by 572.1% in the 1st quarter. Millennium Management LLC now owns 437,661 shares of the industrial products company’s stock valued at $36,549,000 after buying an additional 372,543 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Stock Down 0.2%

Shares of GGG opened at $83.46 on Friday. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 2.80 and a beta of 1.09. The company’s fifty day moving average is $82.14 and its 200-day moving average is $84.08. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $89.67.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $543.36 million during the quarter, compared to the consensus estimate of $563.07 million. Graco had a return on equity of 18.89% and a net margin of 22.72%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. As a group, research analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco announced that its Board of Directors has initiated a share repurchase program on Friday, December 5th that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Graco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Monday, January 19th will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Graco’s previous quarterly dividend of $0.28. Graco’s payout ratio is currently 37.54%.

Analyst Ratings Changes

GGG has been the subject of a number of research reports. KeyCorp reissued a “sector weight” rating on shares of Graco in a research note on Thursday, October 23rd. Weiss Ratings lowered Graco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Robert W. Baird set a $89.00 price objective on Graco in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Graco currently has an average rating of “Hold” and a consensus price target of $90.33.

Graco Company 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.