Hillsdale Investment Management Inc. Has $909,000 Stake in Graco Inc. $GGG
by Mitch Edgeman · The Markets DailyHillsdale Investment Management Inc. grew its position in Graco Inc. (NYSE:GGG – Free Report) by 5,250.0% during the third quarter, HoldingsChannel.com reports. The firm owned 10,700 shares of the industrial products company’s stock after buying an additional 10,500 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Graco were worth $909,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GGG. Nordea Investment Management AB grew its stake in shares of Graco by 432.6% during the 3rd quarter. Nordea Investment Management AB now owns 85,654 shares of the industrial products company’s stock worth $7,263,000 after acquiring an additional 69,573 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Graco by 154.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 64,341 shares of the industrial products company’s stock worth $5,466,000 after purchasing an additional 39,031 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Graco by 3.2% during the third quarter. Principal Financial Group Inc. now owns 2,458,857 shares of the industrial products company’s stock worth $208,908,000 after purchasing an additional 75,285 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Graco by 18.3% in the third quarter. Nisa Investment Advisors LLC now owns 81,202 shares of the industrial products company’s stock valued at $6,899,000 after purchasing an additional 12,575 shares in the last quarter. Finally, Addenda Capital Inc. bought a new position in Graco in the third quarter valued at $4,837,000. 93.88% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have commented on GGG. Weiss Ratings raised shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Robert W. Baird set a $96.00 target price on Graco in a research report on Wednesday, January 28th. DA Davidson reissued a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, February 2nd. Royal Bank Of Canada raised their price target on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.50.
Check Out Our Latest Research Report on Graco
Graco Stock Performance
Graco stock opened at $92.73 on Tuesday. The stock has a 50-day simple moving average of $87.48 and a 200 day simple moving average of $84.83. The stock has a market capitalization of $15.33 billion, a P/E ratio of 30.01, a PEG ratio of 2.92 and a beta of 1.08. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $95.69.
Graco (NYSE:GGG – Get Free Report) last released its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The company had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Research analysts forecast 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 6th. Shareholders of record on Monday, April 13th will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.18 annualized dividend and a yield of 1.3%. Graco’s dividend payout ratio (DPR) is currently 38.19%.
Graco declared that its board has approved a stock repurchase plan on Friday, December 5th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
Insider Activity at Graco
In other news, insider Timothy R. White sold 1,469 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total transaction of $133,238.30. Following the completion of the sale, the insider owned 51,430 shares in the company, valued at approximately $4,664,701. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Angela F. Wordell sold 2,832 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $93.22, for a total transaction of $263,999.04. Following the completion of the transaction, the executive vice president owned 13,360 shares in the company, valued at approximately $1,245,419.20. This trade represents a 17.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 19,394 shares of company stock valued at $1,739,326. 2.19% of the stock is owned by company insiders.
Graco Company Profile
Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.
The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.
See Also
- Five stocks we like better than Graco
- Elon Musk already made me a “wealthy man”
- Elon’s Secret AI Partner?
- Silver $500? The “Deficit Math” says it’s possible.
- Elon Musk: This Could Turn $100 into $100,000
- Buffett, Gates and Bezos Quietly Dumping Stocks—Here’s Why
Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG – Free Report).