Tredje AP fonden Has $1.34 Million Stock Position in Graco Inc. (NYSE:GGG)

Tredje AP fonden decreased its holdings in shares of Graco Inc. (NYSE:GGG) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,836 shares of the industrial products company’s stock after selling 15,836 shares during the quarter. Tredje AP fonden’s holdings in Graco were worth $1,335,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Graco during the 4th quarter worth $25,000. Brooklyn Investment Group bought a new stake in shares of Graco during the 3rd quarter worth $30,000. National Pension Service bought a new stake in shares of Graco during the 4th quarter worth $34,000. Whipplewood Advisors LLC bought a new stake in shares of Graco during the 4th quarter worth $37,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Graco during the 4th quarter worth $61,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Wall Street Analyst Weigh In

GGG has been the subject of several recent analyst reports. BNP Paribas raised shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Thursday, December 19th. Royal Bank of Canada increased their price target on shares of Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, DA Davidson set a $85.00 price target on shares of Graco in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.00.

Graco Price Performance

Shares of Graco stock opened at $83.96 on Friday. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $94.77. The firm has a fifty day moving average price of $84.87 and a two-hundred day moving average price of $85.44. The company has a market cap of $14.23 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. Analysts expect that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Monday, April 14th. Graco’s dividend payout ratio is 39.01%.

Graco Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.