Morgan Stanley grew its position in shares of Graco Inc. (NYSE:GGG) by 14.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 405,921 shares of the industrial products company’s stock after acquiring an additional 52,224 shares during the quarter. Morgan Stanley owned about 0.24% of Graco worth $19,780,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in GGG. NorthRock Partners LLC purchased a new position in shares of Graco in the 4th quarter worth about $26,000. Twin Tree Management LP acquired a new stake in Graco during the 1st quarter worth approximately $29,000. Covington Capital Management purchased a new position in Graco in the fourth quarter valued at approximately $30,000. WASHINGTON TRUST Co acquired a new position in Graco during the first quarter valued at approximately $39,000. Finally, Parallel Advisors LLC lifted its position in Graco by 79.1% during the first quarter. Parallel Advisors LLC now owns 1,026 shares of the industrial products company’s stock valued at $49,000 after buying an additional 453 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.
A number of equities analysts have recently commented on the stock. ValuEngine raised shares of Graco from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Robert W. Baird boosted their price objective on Graco from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Royal Bank of Canada decreased their target price on Graco from $47.00 to $43.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. Finally, DA Davidson dropped their target price on Graco from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 21st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.50.
In other news, Director Martha A. M. Morfitt sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $47.00, for a total transaction of $2,115,000.00. Following the completion of the transaction, the director now directly owns 241,869 shares in the company, valued at approximately $11,367,843. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.12% of the company’s stock.
Graco stock opened at $47.47 on Wednesday. Graco Inc. has a 12-month low of $38.43 and a 12-month high of $56.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 2.44. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. The firm’s fifty day moving average price is $47.86 and its 200 day moving average price is $49.47.
Graco (NYSE:GGG) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.06). Graco had a net margin of 20.43% and a return on equity of 31.40%. The business had revenue of $373.60 million for the quarter, compared to analyst estimates of $386.49 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. Analysts forecast that Graco Inc. will post 1.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $0.70 annualized dividend and a yield of 1.47%. Graco’s dividend payout ratio is presently 36.84%.
Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.
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