First Hawaiian Bank raised its holdings in shares of Graco Inc. (NYSE:GGG) by 633.2% in the fourth quarter, HoldingsChannel reports. The firm owned 1,789 shares of the industrial products company’s stock after buying an additional 1,545 shares during the period. First Hawaiian Bank’s holdings in Graco were worth $75,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Confluence Investment Management LLC increased its stake in Graco by 8.1% during the 4th quarter. Confluence Investment Management LLC now owns 2,300,633 shares of the industrial products company’s stock valued at $96,281,000 after purchasing an additional 172,923 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Graco by 5.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,632,225 shares of the industrial products company’s stock valued at $75,784,000 after purchasing an additional 89,558 shares in the last quarter. WCM Investment Management CA increased its stake in Graco by 3,426.8% during the 3rd quarter. WCM Investment Management CA now owns 1,611,268 shares of the industrial products company’s stock valued at $74,666,000 after purchasing an additional 1,565,581 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Graco by 3.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,403,814 shares of the industrial products company’s stock valued at $65,053,000 after purchasing an additional 49,219 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Graco by 17.9% during the 3rd quarter. American Century Companies Inc. now owns 1,352,102 shares of the industrial products company’s stock valued at $62,656,000 after purchasing an additional 205,546 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

NYSE GGG opened at $42.29 on Wednesday. Graco Inc. has a 1 year low of $37.36 and a 1 year high of $49.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.77 and a quick ratio of 1.71. The firm has a market capitalization of $7.17 billion, a PE ratio of 29.57, a PEG ratio of 2.66 and a beta of 1.11.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The firm had revenue of $415.94 million during the quarter, compared to analyst estimates of $403.62 million. Graco had a net margin of 18.73% and a return on equity of 42.19%. Analysts forecast that Graco Inc. will post 1.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Tuesday, January 22nd will be issued a $0.16 dividend. This is an increase from Graco’s previous quarterly dividend of $0.13. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, January 18th. Graco’s payout ratio is 37.06%.

A number of analysts have commented on the stock. Oppenheimer restated a “hold” rating on shares of Graco in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Friday, October 26th. SunTrust Banks reiterated a “hold” rating and issued a $45.00 target price on shares of Graco in a research note on Monday, October 29th. Royal Bank of Canada reiterated a “hold” rating and issued a $45.00 target price on shares of Graco in a research note on Wednesday, December 19th. Finally, ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Graco presently has an average rating of “Hold” and a consensus target price of $48.17.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2019/01/23/first-hawaiian-bank-acquires-1545-shares-of-graco-inc-ggg.html.

About Graco

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.

Featured Story: What are the Benefits of Index Funds?

Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG).

Institutional Ownership by Quarter for Graco (NYSE:GGG)

Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.