KLP Kapitalforvaltning AS Takes Position in Graco Inc. (NYSE:GGG)

KLP Kapitalforvaltning AS acquired a new position in shares of Graco Inc. (NYSE:GGG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 57,900 shares of the industrial products company’s stock, valued at approximately $4,880,000.

Other institutional investors also recently bought and sold shares of the company. Institute for Wealth Management LLC. grew its stake in shares of Graco by 2.5% in the 4th quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 119 shares during the last quarter. Albert D Mason Inc. increased its stake in shares of Graco by 0.4% during the fourth quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company’s stock worth $2,354,000 after acquiring an additional 121 shares during the period. Optas LLC raised its holdings in Graco by 4.0% during the fourth quarter. Optas LLC now owns 3,360 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 128 shares in the last quarter. Brooklyn Investment Group lifted its position in Graco by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 136 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Graco by 6.1% in the 4th quarter. IFP Advisors Inc now owns 2,782 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 160 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

GGG opened at $84.24 on Wednesday. The stock’s 50 day simple moving average is $85.06 and its 200 day simple moving average is $85.59. The stock has a market cap of $14.16 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.85 and a beta of 0.83. Graco Inc. has a 1-year low of $77.49 and a 1-year high of $94.47.

Graco (NYSE:GGG) last announced its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. Research analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal 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 given 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 1.31%. Graco’s dividend payout ratio is presently 39.01%.

Analysts Set New Price Targets

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

About Graco

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.