Jefferies Financial Group Inc. Takes $1.14 Million Position in Graco Inc. $GGG

Jefferies Financial Group Inc. acquired a new position in shares of Graco Inc. (NYSE:GGG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,454 shares of the industrial products company’s stock, valued at approximately $1,143,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after buying an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of Graco by 416.2% during the second quarter. Savant Capital LLC now owns 12,528 shares of the industrial products company’s stock worth $1,077,000 after buying an additional 10,101 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Graco by 14.9% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,478 shares of the industrial products company’s stock valued at $13,624,000 after acquiring an additional 20,535 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Graco by 837.0% in the second quarter. Allworth Financial LP now owns 4,357 shares of the industrial products company’s stock valued at $375,000 after acquiring an additional 3,892 shares during the period. Institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

GGG has been the topic of a number of research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Jefferies Financial Group increased their price target on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. DA Davidson restated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research report on Monday, February 2nd. Weiss Ratings upgraded shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Finally, Robert W. Baird set a $96.00 target price on shares of Graco in a research note on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.50.

Graco Trading Down 1.2%

GGG stock opened at $86.96 on Friday. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $95.69. The business’s 50 day moving average is $89.57 and its 200-day moving average is $85.37. The firm has a market cap of $14.38 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.76 and a beta of 1.07.

Graco (NYSE:GGG) last posted its earnings results on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The business had revenue of $593.16 million during the quarter, compared to the consensus estimate of $591.99 million. During the same quarter last year, the company earned $0.64 EPS. Graco’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts forecast that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, April 13th. Graco’s payout ratio is currently 38.19%.

Graco declared that its Board of Directors has approved a stock repurchase program on Friday, December 5th that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, EVP Angela F. Wordell sold 2,832 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $93.22, for a total value of $263,999.04. Following the sale, the executive vice president owned 13,360 shares of the company’s stock, valued at approximately $1,245,419.20. This represents a 17.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the sale, the executive vice president owned 7,846 shares of the company’s stock, valued at $690,918.76. This trade represents a 22.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,394 shares of company stock worth $1,739,326 over the last 90 days. 2.19% of the stock is currently owned by company insiders.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.