Teacher Retirement System of Texas Increases Position in Graco Inc. (GGG)

Teacher Retirement System of Texas lifted its position in shares of Graco Inc. (NYSE:GGG) by 1,142.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,129 shares of the industrial products company’s stock after buying an additional 52,531 shares during the period. Teacher Retirement System of Texas’ holdings in Graco were worth $2,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GGG. Gamco Investors INC. ET AL raised its holdings in shares of Graco by 162.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,025,330 shares of the industrial products company’s stock valued at $136,805,000 after buying an additional 1,872,855 shares in the last quarter. Confluence Investment Management LLC increased its stake in Graco by 195.2% in the 4th quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock worth $106,147,000 after purchasing an additional 1,552,175 shares during the period. Gabelli Funds LLC increased its stake in Graco by 187.8% in the 4th quarter. Gabelli Funds LLC now owns 1,133,400 shares of the industrial products company’s stock worth $51,252,000 after purchasing an additional 739,600 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Graco by 207.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 952,411 shares of the industrial products company’s stock worth $43,069,000 after purchasing an additional 642,322 shares during the period. Finally, American Century Companies Inc. increased its stake in Graco by 253.1% in the 4th quarter. American Century Companies Inc. now owns 832,128 shares of the industrial products company’s stock worth $37,629,000 after purchasing an additional 596,448 shares during the period. 64.67% of the stock is currently owned by institutional investors.

GGG has been the topic of a number of analyst reports. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. B. Riley reaffirmed a “hold” rating and issued a $46.67 price target on shares of Graco in a research note on Wednesday, December 20th. SunTrust Banks reaffirmed a “hold” rating and issued a $45.00 price target on shares of Graco in a research note on Wednesday, January 31st. ValuEngine cut Graco from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $47.67 price target on shares of Graco in a research note on Friday, December 15th. Ten research analysts have rated the stock with 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 price target of $47.33.

In other news, VP Karen Park Gallivan sold 27,000 shares of Graco stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $46.67, for a total value of $1,260,090.00. Following the sale, the vice president now directly owns 72,305 shares in the company, valued at approximately $3,374,474.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Caroline M. Chambers sold 9,939 shares of Graco stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.03, for a total value of $417,736.17. Following the completion of the sale, the vice president now owns 30,615 shares in the company, valued at $1,286,748.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,689 shares of company stock worth $6,646,134. Corporate insiders own 5.70% of the company’s stock.

Shares of Graco Inc. (NYSE:GGG) opened at $43.96 on Wednesday. The firm has a market capitalization of $7,415.90, a P/E ratio of 28.72, a PEG ratio of 2.35 and a beta of 1.15. Graco Inc. has a 1 year low of $29.70 and a 1 year high of $49.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.67.

Graco (NYSE:GGG) last issued its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). The business had revenue of $374.90 million during the quarter, compared to the consensus estimate of $369.53 million. Graco had a return on equity of 40.08% and a net margin of 17.12%. Graco’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 earnings per share. equities research analysts anticipate that Graco Inc. will post 1.78 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Monday, April 16th will be given a $0.1325 dividend. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.21%. Graco’s dividend payout ratio is currently 36.47%.

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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.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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