Amalgamated Bank Buys 986 Shares of Graco Inc. (NYSE:GGG)

Amalgamated Bank increased its stake in Graco Inc. (NYSE:GGG) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,420 shares of the industrial products company’s stock after buying an additional 986 shares during the quarter. Amalgamated Bank’s holdings in Graco were worth $6,863,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Graco during the 4th quarter worth about $25,000. Brooklyn Investment Group bought a new stake in Graco in the third quarter worth about $30,000. Catalyst Capital Advisors LLC purchased a new position in shares of Graco during the fourth quarter valued at approximately $61,000. MilWealth Group LLC bought a new position in shares of Graco during the fourth quarter valued at approximately $63,000. Finally, Huntington National Bank grew its stake in shares of Graco by 60.4% during the third quarter. Huntington National Bank now owns 953 shares of the industrial products company’s stock valued at $83,000 after buying an additional 359 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors.

Insider Transactions at Graco

In other news, insider Caroline M. Chambers sold 8,280 shares of Graco stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $90.57, for a total value of $749,919.60. Following the transaction, the insider now directly owns 57,612 shares in the company, valued at approximately $5,217,918.84. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.63% of the company’s stock.

Analysts Set New Price Targets

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

Graco Stock Down 1.2 %

GGG opened at $85.79 on Thursday. The stock’s fifty day moving average is $84.65 and its two-hundred day moving average is $85.13. The company has a market capitalization of $14.54 billion, a P/E ratio of 30.42, a PEG ratio of 2.85 and a beta of 0.84. Graco Inc. has a 52 week low of $77.49 and a 52 week high of $94.77.

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

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.28%. Graco’s dividend payout ratio is currently 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.