12,923 Shares in Graco Inc. $GGG Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new stake in shares of Graco Inc. (NYSE:GGG) during the first quarter, Holdings Channel reports. The fund purchased 12,923 shares of the industrial products company’s stock, valued at approximately $1,094,000.

Other large investors have also recently bought and sold shares of the company. AE Wealth Management LLC lifted its stake in shares of Graco by 32.7% in the 4th quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock valued at $32,652,000 after purchasing an additional 98,141 shares during the period. Comerica Bank grew its stake in Graco by 54.1% during the fourth quarter. Comerica Bank now owns 172,328 shares of the industrial products company’s stock worth $14,126,000 after purchasing an additional 60,486 shares during the period. Swiss Life Asset Management Ltd increased its holdings in Graco by 40.5% in the third quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock worth $3,869,000 after purchasing an additional 13,130 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Graco by 20,706.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock worth $45,605,000 after purchasing an additional 553,688 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Graco by 294.4% in the fourth quarter. Teacher Retirement System of Texas now owns 297,787 shares of the industrial products company’s stock valued at $24,410,000 after buying an additional 222,279 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a $92.00 price target (down from $95.00) on shares of Graco in a report on Thursday. DA Davidson reiterated a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Finally, Robert W. Baird decreased their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $93.50.

Insider Activity

In other Graco news, Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction on Monday, April 27th. The stock was purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.18% of the stock is currently owned by corporate insiders.

Graco Stock Performance

Shares of NYSE:GGG opened at $73.59 on Tuesday. Graco Inc. has a 52-week low of $72.51 and a 52-week high of $95.69. The business’s 50 day simple moving average is $75.10 and its two-hundred day simple moving average is $82.83. The firm has a market cap of $12.21 billion, a P/E ratio of 23.97, a PEG ratio of 2.40 and a beta of 0.93.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The business had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. On average, equities analysts forecast that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 annualized dividend and a dividend yield of 1.6%. Graco’s dividend payout ratio is currently 38.44%.

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.