Fox Run Management L.L.C. Acquires Shares of 5,990 Graco Inc. $GGG

Fox Run Management L.L.C. bought a new stake in Graco Inc. (NYSE:GGG) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,990 shares of the industrial products company’s stock, valued at approximately $509,000.

Other large investors have also modified their holdings of the company. Root Financial Partners LLC bought a new stake in Graco in the third quarter valued at about $29,000. NewSquare Capital LLC lifted its holdings in Graco by 320.7% during the 2nd quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after buying an additional 263 shares during the last quarter. Assetmark Inc. lifted its holdings in Graco by 42.6% during the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after buying an additional 139 shares during the last quarter. CX Institutional grew its position in shares of Graco by 316.7% in the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 361 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 452 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Stock Up 0.9%

GGG stock opened at $93.81 on Friday. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $95.69. The firm’s 50-day simple moving average is $88.30 and its 200 day simple moving average is $85.08. The stock has a market cap of $15.51 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 2.95 and a beta of 1.08.

Graco (NYSE:GGG) last posted its earnings results on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. Graco had a net margin of 23.33% and a return on equity of 19.49%. The firm had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. During the same quarter in the prior year, the firm earned $0.64 EPS. Graco’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, April 13th. Graco’s dividend payout ratio (DPR) is currently 38.19%.

Graco declared that its board has initiated a stock repurchase plan on Friday, December 5th that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on GGG. Royal Bank Of Canada raised their price objective on Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Weiss Ratings raised shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Robert W. Baird set a $96.00 price target on shares of Graco in a research report on Wednesday, January 28th. KeyCorp reissued a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $85.00 target price on shares of Graco in a report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.50.

Insiders Place Their Bets

In other news, EVP Angela F. Wordell sold 2,832 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $93.22, for a total value of $263,999.04. Following the completion of the transaction, the executive vice president owned 13,360 shares of the company’s stock, valued at approximately $1,245,419.20. This represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Timothy R. White sold 1,469 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the transaction, the insider directly owned 51,430 shares in the company, valued at $4,664,701. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,394 shares of company stock valued at $1,739,326 in the last quarter. 2.19% of the stock is owned by insiders.

Graco 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.