Graco Inc. (NYSE:GGG) Position Boosted by Albert D Mason Inc.

Albert D Mason Inc. grew its holdings in shares of Graco Inc. (NYSE:GGG) by 9.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,802 shares of the industrial products company’s stock after purchasing an additional 2,431 shares during the period. Graco makes up 1.6% of Albert D Mason Inc.’s portfolio, making the stock its 13th biggest holding. Albert D Mason Inc.’s holdings in Graco were worth $2,433,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in shares of Graco by 1,010.8% in the first quarter. SG Americas Securities LLC now owns 55,886 shares of the industrial products company’s stock worth $5,223,000 after purchasing an additional 50,855 shares in the last quarter. Vident Advisory LLC grew its holdings in Graco by 567.4% during the first quarter. Vident Advisory LLC now owns 42,899 shares of the industrial products company’s stock valued at $4,009,000 after purchasing an additional 36,471 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Graco by 14.5% in the first quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock worth $134,618,000 after acquiring an additional 182,470 shares during the last quarter. M&G Plc grew its stake in shares of Graco by 2.0% in the second quarter. M&G Plc now owns 483,535 shares of the industrial products company’s stock worth $38,199,000 after acquiring an additional 9,673 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Graco by 2.9% in the first quarter. Acadian Asset Management LLC now owns 884,912 shares of the industrial products company’s stock worth $82,683,000 after acquiring an additional 24,827 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank of Canada reduced their target price on Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Robert W. Baird cut their price target on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $79.00 price target 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 given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.25.

Graco Stock Performance

Shares of GGG opened at $83.82 on Wednesday. The stock has a 50 day simple moving average of $83.83 and a 200 day simple moving average of $82.79. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77. The firm has a market capitalization of $14.18 billion, a PE ratio of 28.90, a P/E/G ratio of 2.88 and a beta of 0.81.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. The firm had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $562.27 million. Graco had a return on equity of 22.40% and a net margin of 23.16%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. Equities research analysts predict that Graco Inc. will post 2.98 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s payout ratio is 35.17%.

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.