Elo Mutual Pension Insurance Co Increases Stock Position in Graco Inc. (NYSE:GGG)

Elo Mutual Pension Insurance Co increased its holdings in shares of Graco Inc. (NYSE:GGG) by 24.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,739 shares of the industrial products company’s stock after acquiring an additional 3,716 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Graco were worth $1,580,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Disciplined Growth Investors Inc. MN grew its position in shares of Graco by 3.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 419,942 shares of the industrial products company’s stock valued at $36,749,000 after purchasing an additional 13,876 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Graco by 32.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company’s stock valued at $130,298,000 after buying an additional 374,967 shares during the last quarter. PineStone Asset Management Inc. grew its holdings in Graco by 2.7% during the 4th quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company’s stock valued at $244,836,000 after buying an additional 76,184 shares during the last quarter. Canoe Financial LP increased its position in Graco by 359.2% during the fourth quarter. Canoe Financial LP now owns 640,474 shares of the industrial products company’s stock worth $53,986,000 after buying an additional 501,003 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Graco by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company’s stock worth $88,923,000 after acquiring an additional 19,545 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on GGG shares. BNP Paribas raised Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research note on Thursday, December 19th. DA Davidson set a $85.00 price target on shares of Graco in a research note on Friday, January 31st. Finally, Royal Bank of Canada boosted their price objective on shares of Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $93.00.

Graco Trading Down 1.3 %

NYSE GGG opened at $83.35 on Friday. The company has a market capitalization of $14.01 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. The business’s 50-day moving average price is $85.03 and its 200 day moving average price is $85.62. Graco Inc. has a twelve month low of $77.49 and a twelve month high of $93.25.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. Equities analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be issued a $0.275 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.32%. Graco’s dividend payout ratio (DPR) is presently 39.01%.

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.