Graco Inc. (GGG) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. grew its position in Graco Inc. (NYSE:GGG) by 5.8% in the third quarter, Holdings Channel reports. The fund owned 1,632,225 shares of the industrial products company’s stock after buying an additional 89,558 shares during the period. Russell Investments Group Ltd.’s holdings in Graco were worth $75,784,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of GGG. Signaturefd LLC increased its holdings in shares of Graco by 727.8% in the 2nd quarter. Signaturefd LLC now owns 2,235 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 1,965 shares during the last quarter. Fort L.P. bought a new stake in shares of Graco in the 2nd quarter valued at approximately $119,000. Itau Unibanco Holding S.A. bought a new stake in shares of Graco in the 2nd quarter valued at approximately $162,000. Meeder Asset Management Inc. increased its holdings in shares of Graco by 51.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 4,086 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 1,396 shares during the last quarter. Finally, Hengehold Capital Management LLC bought a new stake in shares of Graco in the 3rd quarter valued at approximately $202,000. Institutional investors and hedge funds own 85.56% of the company’s stock.
Shares of GGG opened at $40.44 on Friday. The firm has a market cap of $6.73 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.53 and a beta of 1.09. The company has a quick ratio of 1.64, a current ratio of 2.77 and a debt-to-equity ratio of 0.33. Graco Inc. has a 12 month low of $37.36 and a 12 month high of $49.69.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Monday, October 22nd will be paid a dividend of $0.1325 per share. The ex-dividend date is Friday, October 19th. This represents a $0.53 dividend on an annualized basis and a yield of 1.31%. Graco’s payout ratio is currently 37.06%.
In related news, insider Caroline M. Chambers sold 97,500 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $47.10, for a total transaction of $4,592,250.00. Following the completion of the transaction, the insider now directly owns 119,092 shares in the company, valued at approximately $5,609,233.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jack W. Eugster sold 32,297 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $46.66, for a total value of $1,506,978.02. Following the transaction, the director now owns 103,251 shares of the company’s stock, valued at $4,817,691.66. The disclosure for this sale can be found here. 5.10% of the stock is owned by corporate insiders.
A number of brokerages have recently weighed in on GGG. Oppenheimer reiterated a “hold” rating on shares of Graco in a report on Thursday, July 26th. Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating in a report on Monday, October 1st. DA Davidson set a $49.00 price objective on Graco and gave the stock a “hold” rating in a research note on Monday, August 20th. ValuEngine downgraded Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, Royal Bank of Canada restated a “hold” rating and set a $49.00 price objective on shares of Graco in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.67.
Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; 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.
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