UniSuper Management Pty Ltd Cuts Holdings in Graco Inc. (NYSE:GGG)

UniSuper Management Pty Ltd lessened its position in shares of Graco Inc. (NYSE:GGG) by 22.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,200 shares of the industrial products company’s stock after selling 900 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Graco were worth $270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its holdings in shares of Graco by 93.5% during the 3rd quarter. Cerity Partners LLC now owns 13,380 shares of the industrial products company’s stock worth $1,171,000 after purchasing an additional 6,464 shares during the period. FMR LLC grew its stake in Graco by 33.7% during the third quarter. FMR LLC now owns 32,418 shares of the industrial products company’s stock worth $2,837,000 after buying an additional 8,166 shares during the period. Townsquare Capital LLC acquired a new stake in shares of Graco in the third quarter worth $299,000. Glenmede Trust Co. NA raised its stake in shares of Graco by 5.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,561 shares of the industrial products company’s stock valued at $924,000 after acquiring an additional 543 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Graco by 4.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,111,152 shares of the industrial products company’s stock valued at $97,237,000 after acquiring an additional 43,923 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

Shares of Graco stock opened at $83.55 on Tuesday. Graco Inc. has a 1-year low of $77.49 and a 1-year high of $93.25. The company has a market capitalization of $14.05 billion, a PE ratio of 29.63, a P/E/G ratio of 2.85 and a beta of 0.83. The business has a 50-day moving average of $84.99 and a 200-day moving average of $85.65.

Graco (NYSE:GGG) last issued its quarterly earnings data 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 analysts expect that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business 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 is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.32%. Graco’s dividend payout ratio (DPR) is presently 39.01%.

Analyst Upgrades and Downgrades

Several research firms have commented on GGG. BNP Paribas raised Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Thursday, December 19th. DA Davidson set a $85.00 target price on Graco in a report on Friday, January 31st. Finally, Royal Bank of Canada upped their price target on Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.