ICW Investment Advisors LLC Makes New Investment in Graco Inc. (NYSE:GGG)

ICW Investment Advisors LLC purchased a new position in shares of Graco Inc. (NYSE:GGG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,476 shares of the industrial products company’s stock, valued at approximately $209,000.

Several other institutional investors also recently added to or reduced their stakes in GGG. Pathstone Holdings LLC increased its position in Graco by 4.9% during the third quarter. Pathstone Holdings LLC now owns 47,638 shares of the industrial products company’s stock worth $4,169,000 after buying an additional 2,205 shares during the period. Prospera Financial Services Inc increased its position in Graco by 13.9% during the third quarter. Prospera Financial Services Inc now owns 3,875 shares of the industrial products company’s stock worth $339,000 after buying an additional 474 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Graco during the third quarter worth approximately $686,000. PNC Financial Services Group Inc. grew its stake in shares of Graco by 5.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 55,004 shares of the industrial products company’s stock valued at $4,813,000 after purchasing an additional 2,939 shares during the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of Graco by 59.0% in the 3rd quarter. Raymond James Trust N.A. now owns 9,225 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 3,422 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Price Performance

Graco stock opened at $82.13 on Monday. Graco Inc. has a 1-year low of $77.49 and a 1-year high of $94.48. The company has a market cap of $13.81 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. The stock’s 50 day moving average price is $85.00 and its 200 day moving average price is $85.54.

Graco (NYSE:GGG) last posted 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%. On average, equities research analysts anticipate 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. Investors of record on Monday, April 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.34%. Graco’s dividend payout ratio (DPR) is presently 39.01%.

Analyst Ratings Changes

Several brokerages have weighed in on GGG. DA Davidson set a $85.00 target price on Graco in a research note on Friday, January 31st. Royal Bank of Canada lifted their target price on Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, BNP Paribas upgraded Graco from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $93.00.

Graco Company 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.