Burgundy Asset Management Ltd. Acquires 8,609 Shares of Graco Inc. (NYSE:GGG)

Burgundy Asset Management Ltd. raised its holdings in Graco Inc. (NYSE:GGGGet Rating) by 1.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 757,474 shares of the industrial products company’s stock after acquiring an additional 8,609 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 0.45% of Graco worth $61,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Carlson Capital Management grew its position in shares of Graco by 261.6% during the 4th quarter. Carlson Capital Management now owns 67,657 shares of the industrial products company’s stock worth $5,455,000 after buying an additional 48,947 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Graco during the 4th quarter worth $4,298,000. Voya Financial Advisors Inc. grew its position in shares of Graco by 6.2% during the 3rd quarter. Voya Financial Advisors Inc. now owns 4,259 shares of the industrial products company’s stock worth $307,000 after buying an additional 249 shares in the last quarter. AlphaCrest Capital Management LLC grew its position in shares of Graco by 311.6% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 48,000 shares of the industrial products company’s stock worth $3,359,000 after buying an additional 36,338 shares in the last quarter. Finally, Inspire Investing LLC bought a new position in shares of Graco during the 3rd quarter worth $222,000. 84.53% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on GGG shares. Seaport Res Ptn restated a “neutral” rating on shares of Graco in a research note on Wednesday, February 2nd. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating and set a $73.00 price objective for the company. in a research note on Thursday, April 7th. DA Davidson restated a “neutral” rating on shares of Graco in a research note on Thursday, April 28th. StockNews.com cut Graco from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Finally, Robert W. Baird decreased their price objective on Graco from $80.00 to $71.00 in a research note on Friday, April 29th. Four analysts have rated the stock with a hold rating and three 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 a consensus price target of $75.67.

In other news, Director J Kevin Gilligan sold 13,938 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $63.50, for a total value of $885,063.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David M. Lowe sold 28,001 shares of the firm’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $70.70, for a total value of $1,979,670.70. The disclosure for this sale can be found here. Company insiders own 3.52% of the company’s stock.

Graco stock traded up $0.76 during midday trading on Friday, reaching $60.80. The company’s stock had a trading volume of 392,855 shares, compared to its average volume of 815,387. The stock’s 50-day simple moving average is $66.85 and its 200-day simple moving average is $72.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.98 and a quick ratio of 1.89. Graco Inc. has a 52-week low of $58.41 and a 52-week high of $81.09. The stock has a market capitalization of $10.29 billion, a P/E ratio of 24.42, a PEG ratio of 2.77 and a beta of 0.75.

Graco (NYSE:GGGGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The industrial products company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.05). Graco had a net margin of 21.45% and a return on equity of 26.28%. The business had revenue of $494.29 million during the quarter, compared to analysts’ expectations of $503.33 million. During the same quarter last year, the business posted $0.58 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts expect that Graco Inc. will post 2.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 4th. Stockholders of record on Monday, April 18th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, April 14th. Graco’s payout ratio is 33.74%.

Graco Company Profile (Get Rating)

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

Further Reading

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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