Graco Inc. (NYSE:GGG) Shares Bought by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC grew its holdings in Graco Inc. (NYSE:GGG) by 1.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,180 shares of the industrial products company’s stock after buying an additional 189 shares during the period. OneDigital Investment Advisors LLC’s holdings in Graco were worth $891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. PineStone Asset Management Inc. lifted its stake in Graco by 134.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock worth $330,532,000 after purchasing an additional 2,390,602 shares in the last quarter. Principal Financial Group Inc. lifted its position in Graco by 244.4% during the third quarter. Principal Financial Group Inc. now owns 1,990,742 shares of the industrial products company’s stock worth $174,210,000 after buying an additional 1,412,704 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Graco by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock worth $137,361,000 after buying an additional 91,794 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Graco by 32.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,069,292 shares of the industrial products company’s stock valued at $84,775,000 after buying an additional 259,819 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in Graco by 3.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 962,163 shares of the industrial products company’s stock valued at $76,280,000 after buying an additional 33,563 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

Graco stock opened at $87.82 on Wednesday. The company’s 50 day simple moving average is $85.43 and its 200-day simple moving average is $82.59. Graco Inc. has a 1 year low of $77.49 and a 1 year high of $94.77. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 3.07 and a beta of 0.82.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a net margin of 22.87% and a return on equity of 21.24%. The firm had revenue of $519.21 million during the quarter, compared to analysts’ expectations of $538.19 million. During the same period in the previous year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts expect that Graco Inc. will post 2.91 earnings per share for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Monday, October 21st. Graco’s dividend payout ratio (DPR) is 36.04%.

Insider Buying and Selling at Graco

In related news, insider Peter J. O’shea sold 18,075 shares of Graco stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $88.76, for a total value of $1,604,337.00. Following the completion of the transaction, the insider now owns 14,516 shares in the company, valued at approximately $1,288,440.16. The trade was a 55.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David J. Thompson sold 3,216 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total transaction of $284,004.96. Following the completion of the transaction, the insider now owns 27,246 shares of the company’s stock, valued at approximately $2,406,094.26. This trade represents a 10.56 % decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GGG has been the topic of several recent research reports. Robert W. Baird lowered their price target on shares of Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada cut their price target on shares of Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, DA Davidson reiterated a “neutral” rating and issued a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.25.

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.