Fiera Capital Corp Increases Position in Graco Inc. (NYSE:GGG)

Fiera Capital Corp raised its holdings in Graco Inc. (NYSE:GGG) by 3.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,736,344 shares of the industrial products company’s stock after buying an additional 321,342 shares during the quarter. Graco accounts for about 2.1% of Fiera Capital Corp’s investment portfolio, making the stock its 12th largest position. Fiera Capital Corp owned about 6.45% of Graco worth $531,663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GGG. BlackRock Inc. grew its holdings in shares of Graco by 0.9% during the 1st quarter. BlackRock Inc. now owns 14,864,786 shares of the industrial products company’s stock worth $736,106,000 after purchasing an additional 138,628 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Graco by 16.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,120,002 shares of the industrial products company’s stock worth $297,973,000 after buying an additional 1,011,052 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Graco by 4,085.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,782,062 shares of the industrial products company’s stock worth $66,000 after buying an additional 2,715,585 shares during the period. Wells Fargo & Company MN lifted its position in shares of Graco by 0.4% during the 1st quarter. Wells Fargo & Company MN now owns 2,229,626 shares of the industrial products company’s stock worth $110,411,000 after buying an additional 9,677 shares during the period. Finally, WCM Investment Management LLC lifted its position in shares of Graco by 6.7% during the 4th quarter. WCM Investment Management LLC now owns 1,718,507 shares of the industrial products company’s stock worth $71,920,000 after buying an additional 107,239 shares during the period. 84.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE GGG traded up $1.28 during midday trading on Monday, hitting $51.46. The stock had a trading volume of 579,134 shares, compared to its average volume of 564,883. The stock has a 50-day simple moving average of $49.22. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 2.18 and a beta of 0.98. Graco Inc. has a fifty-two week low of $37.36 and a fifty-two week high of $53.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.23 and a current ratio of 2.07.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 24th. The industrial products company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). Graco had a net margin of 20.72% and a return on equity of 41.51%. The firm had revenue of $404.90 million during the quarter, compared to analyst estimates of $415.70 million. During the same period last year, the business posted $0.48 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts forecast that Graco Inc. will post 2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Monday, July 22nd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. Graco’s dividend payout ratio (DPR) is presently 34.04%.

GGG has been the subject of several research analyst reports. DA Davidson reiterated a “neutral” rating on shares of Graco in a research report on Thursday, April 25th. Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Eight research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $47.00.

In related news, insider Jeffrey P. Johnson sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $48.85, for a total transaction of $732,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy R. White sold 6,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $52.18, for a total value of $313,080.00. Following the sale, the insider now owns 50,660 shares in the company, valued at approximately $2,643,438.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 203,610 shares of company stock valued at $10,389,984. 4.23% of the stock is owned by insiders.

About Graco

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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