Schroder Investment Management Group Has $28.30 Million Holdings in Graco Inc. $GGG

Schroder Investment Management Group grew its holdings in Graco Inc. (NYSE:GGG) by 877.5% during the third quarter, Holdings Channel.com reports. The firm owned 334,947 shares of the industrial products company’s stock after buying an additional 300,682 shares during the period. Schroder Investment Management Group’s holdings in Graco were worth $28,300,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Stonebridge Capital Advisors LLC grew its position in Graco by 0.3% during the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after purchasing an additional 119 shares in the last quarter. Fifth Third Bancorp lifted its position in Graco by 7.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock worth $149,000 after buying an additional 125 shares in the last quarter. ICW Investment Advisors LLC boosted its stake in shares of Graco by 4.6% during the 3rd quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock valued at $242,000 after buying an additional 126 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Graco by 7.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 135 shares in the last quarter. Finally, Viawealth LLC increased its stake in shares of Graco by 0.3% in the third quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock worth $4,519,000 after acquiring an additional 137 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Graco news, EVP Kathryn L. Schoenrock sold 2,223 shares of Graco stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the completion of the transaction, the executive vice president directly owned 7,846 shares of the company’s stock, valued at approximately $690,918.76. This trade represents a 22.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Kevin Gilligan sold 12,870 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $89.07, for a total transaction of $1,146,330.90. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 19,394 shares of company stock valued at $1,739,326. 2.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GGG has been the subject of several recent research reports. KeyCorp reiterated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Weiss Ratings raised Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, February 2nd. Jefferies Financial Group lifted their price target on Graco from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, Robert W. Baird set a $96.00 price target on Graco in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.50.

Graco Stock Performance

Shares of NYSE:GGG opened at $86.96 on Friday. The stock’s 50-day moving average is $89.57 and its 200-day moving average is $85.37. The company has a market cap of $14.38 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.76 and a beta of 1.07. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $95.69.

Graco (NYSE:GGG) last posted its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $593.16 million for the quarter, compared to analyst estimates of $591.99 million. Graco had a net margin of 23.33% and a return on equity of 19.49%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. As a group, equities analysts predict that Graco Inc. will post 3.06 EPS for the current 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 outstanding shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. Graco’s dividend payout ratio is presently 38.19%.

About Graco

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.