Teacher Retirement System of Texas Increases Stock Position in Graco Inc. (NYSE:GGG)

Teacher Retirement System of Texas raised its holdings in Graco Inc. (NYSE:GGGGet Rating) by 104.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,464 shares of the industrial products company’s stock after purchasing an additional 28,296 shares during the quarter. Teacher Retirement System of Texas’ holdings in Graco were worth $3,325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Fiera Capital Corp boosted its holdings in Graco by 2.0% in the 2nd quarter. Fiera Capital Corp now owns 10,106,956 shares of the industrial products company’s stock valued at $600,455,000 after purchasing an additional 202,136 shares in the last quarter. State Street Corp boosted its stake in shares of Graco by 6.7% during the 2nd quarter. State Street Corp now owns 6,402,263 shares of the industrial products company’s stock worth $380,358,000 after acquiring an additional 399,541 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of Graco by 11.2% during the 3rd quarter. WCM Investment Management LLC now owns 5,966,080 shares of the industrial products company’s stock worth $359,516,000 after acquiring an additional 598,982 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Graco by 33.8% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,718,470 shares of the industrial products company’s stock worth $161,504,000 after acquiring an additional 687,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Graco by 3.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 912,730 shares of the industrial products company’s stock worth $63,636,000 after acquiring an additional 27,545 shares in the last quarter. Hedge funds and other institutional investors own 85.85% of the company’s stock.

Graco Trading Up 0.7 %

GGG stock opened at $67.21 on Wednesday. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 3.03 and a beta of 0.80. The company has a quick ratio of 1.91, a current ratio of 2.99 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $68.40 and a 200-day simple moving average of $66.01. Graco Inc. has a 52 week low of $56.48 and a 52 week high of $75.45.

Graco (NYSE:GGGGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Graco had a return on equity of 25.74% and a net margin of 21.37%. The business had revenue of $545.64 million during the quarter, compared to the consensus estimate of $523.45 million. On average, equities research analysts expect that Graco Inc. will post 2.6 EPS for the current year.

Graco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Wednesday, January 18th will be issued a $0.235 dividend. This is an increase from Graco’s previous quarterly dividend of $0.21. This represents a $0.94 annualized dividend and a yield of 1.40%. The ex-dividend date is Tuesday, January 17th. Graco’s dividend payout ratio is currently 35.88%.

Insider Activity at Graco

In related news, VP Angela F. Wordell sold 2,700 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $70.37, for a total value of $189,999.00. Following the completion of the sale, the vice president now directly owns 12,372 shares in the company, valued at approximately $870,617.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Graco news, VP Angela F. Wordell sold 2,700 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $70.37, for a total value of $189,999.00. Following the completion of the transaction, the vice president now directly owns 12,372 shares of the company’s stock, valued at approximately $870,617.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Caroline M. Chambers sold 19,041 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $69.95, for a total transaction of $1,331,917.95. Following the completion of the transaction, the insider now directly owns 48,599 shares of the company’s stock, valued at $3,399,500.05. The disclosure for this sale can be found here. 3.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GGG. StockNews.com raised Graco from a “hold” rating to a “buy” rating in a research note on Wednesday, January 18th. Royal Bank of Canada upped their target price on Graco from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, November 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.50.

Graco Company Profile

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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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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