Morgan Stanley boosted its position in shares of Graco Inc. (NYSE:GGG) by 12.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 148,597 shares of the industrial products company’s stock after buying an additional 16,224 shares during the period. Morgan Stanley owned 0.27% of Graco worth $13,989,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Graco during the fourth quarter worth $34,615,000. Thrivent Financial for Lutherans boosted its position in shares of Graco by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,520 shares of the industrial products company’s stock worth $791,000 after buying an additional 810 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Graco by 126.5% in the first quarter. Conestoga Capital Advisors LLC now owns 22,248 shares of the industrial products company’s stock worth $2,094,000 after buying an additional 12,425 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Graco by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 346,915 shares of the industrial products company’s stock worth $28,826,000 after buying an additional 18,120 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock worth $141,000 after buying an additional 76 shares in the last quarter. 90.10% of the stock is currently owned by institutional investors.
Shares of Graco Inc. (NYSE:GGG) traded up 1.36% during midday trading on Monday, hitting $114.19. The stock had a trading volume of 245,735 shares. The company’s 50 day moving average is $110.78 and its 200 day moving average is $102.35. The company has a market cap of $6.39 billion, a PE ratio of 72.46 and a beta of 1.25. Graco Inc. has a 52-week low of $69.33 and a 52-week high of $116.75.
Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The firm had revenue of $379.50 million for the quarter, compared to the consensus estimate of $369.36 million. During the same period in the prior year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts anticipate that Graco Inc. will post $4.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.26%. Graco’s payout ratio is 92.90%.
ILLEGAL ACTIVITY NOTICE: “Morgan Stanley Buys 16,224 Shares of Graco Inc. (NYSE:GGG)” was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://stocknewstimes.com/2017/08/14/morgan-stanley-boosts-position-in-graco-inc-nyseggg-updated-updated-updated.html.
A number of equities analysts have commented on GGG shares. TheStreet raised Graco from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. Wolfe Research started coverage on Graco in a research note on Tuesday, July 11th. They issued an “underperform” rating and a $100.00 price target on the stock. FBR & Co reaffirmed a “marketperform” rating on shares of Graco in a research note on Tuesday, July 11th. BidaskClub cut Graco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $104.00 price target on shares of Graco in a research note on Friday, April 28th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Graco presently has an average rating of “Hold” and an average price target of $106.20.
In related news, Director Eric Etchart sold 793 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $113.90, for a total value of $90,322.70. Following the transaction, the director now owns 11,224 shares of the company’s stock, valued at $1,278,413.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $1,407,830.00. Following the completion of the transaction, the vice president now directly owns 27,264 shares in the company, valued at approximately $3,135,360. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,021 shares of company stock worth $6,484,484. Company insiders own 5.70% of the company’s stock.
About Graco
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
Receive News & Ratings for Graco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
