British Airways Pensions Investment Management Ltd Buys 91,760 Shares of Graco Inc. (GGG)
British Airways Pensions Investment Management Ltd increased its stake in Graco Inc. (NYSE:GGG) by 99.8% during the second quarter, Holdings Channel reports. The firm owned 183,670 shares of the company’s stock after buying an additional 91,760 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Graco were worth $14,566,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning increased its position in Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock valued at $107,000 after buying an additional 165 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Graco by 0.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,584 shares of the company’s stock valued at $135,000 after buying an additional 12 shares during the period. Park National Corp OH increased its position in Graco by 0.4% in the second quarter. Park National Corp OH now owns 2,733 shares of the company’s stock valued at $216,000 after buying an additional 11 shares during the period. First Republic Investment Management Inc. bought a new position in Graco during the first quarter valued at $245,000. Finally, Raymond James Trust N.A. increased its position in Graco by 7.5% in the first quarter. Raymond James Trust N.A. now owns 3,061 shares of the company’s stock valued at $257,000 after buying an additional 214 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.
Graco Inc. (NYSE:GGG) traded up 2.46% during mid-day trading on Thursday, hitting $75.84. 220,482 shares of the stock traded hands. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 22.35 and a beta of 1.54. Graco Inc. has a 12-month low of $63.05 and a 12-month high of $86.62. The firm’s 50-day moving average is $74.04 and its 200-day moving average is $78.60.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 20th. The company reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The firm earned $348.10 million during the quarter, compared to analysts’ expectations of $352.49 million. Graco had a net margin of 15.01% and a return on equity of 30.04%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. Equities research analysts expect that Graco Inc. will post $3.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Monday, October 17th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, October 13th. Graco’s dividend payout ratio is currently 38.94%.
Several research analysts recently weighed in on GGG shares. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Deutsche Bank AG initiated coverage on shares of Graco in a report on Tuesday, September 6th. They issued a “hold” rating and a $83.00 price objective for the company. William Blair downgraded shares of Graco from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $89.00 to $78.00 in a report on Thursday, July 21st. Finally, KeyCorp initiated coverage on shares of Graco in a report on Wednesday, May 25th. They issued a “sector weight” rating for the company. Nine analysts have rated the stock with a hold rating, Graco presently has a consensus rating of “Hold” and an average target price of $83.75.
In related news, insider Patrick J. Mchale sold 11,500 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $74.19, for a total transaction of $853,185.00. Following the sale, the insider now owns 142,230 shares of the company’s stock, valued at $10,552,043.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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