Bank of Montreal Can Acquires 80,328 Shares of Graco Inc. (NYSE:GGG)

Bank of Montreal Can raised its position in Graco Inc. (NYSE:GGGGet Rating) by 92.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,238 shares of the industrial products company’s stock after purchasing an additional 80,328 shares during the period. Bank of Montreal Can’s holdings in Graco were worth $10,184,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Prospera Financial Services Inc bought a new stake in shares of Graco during the 1st quarter worth $29,000. Tobam purchased a new position in Graco in the 2nd quarter worth $32,000. Castle Wealth Management LLC purchased a new position in Graco in the 2nd quarter worth $32,000. Meeder Asset Management Inc. purchased a new position in shares of Graco in the first quarter valued at about $74,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Graco by 28.7% during the first quarter. Quadrant Capital Group LLC now owns 1,274 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 284 shares during the last quarter. 86.47% of the stock is owned by institutional investors.

Graco Stock Down 0.1 %

GGG opened at $70.08 on Thursday. The company has a current ratio of 2.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.04. Graco Inc. has a 1-year low of $56.48 and a 1-year high of $81.09. The company has a market capitalization of $11.81 billion, a PE ratio of 26.75, a PEG ratio of 3.38 and a beta of 0.81. The firm’s 50 day simple moving average is $64.88 and its two-hundred day simple moving average is $63.63.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 14th. This represents a $0.84 annualized dividend and a yield of 1.20%. Graco’s payout ratio is presently 32.06%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GGG. StockNews.com downgraded shares of Graco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. DA Davidson cut their price objective on shares of Graco to $70.00 in a report on Tuesday, August 9th. Finally, Royal Bank of Canada upped their price objective on shares of Graco from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, November 14th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Graco presently has an average rating of “Hold” and an average price target of $69.50.

Insiders Place Their Bets

In other news, VP Angela F. Wordell sold 2,700 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $70.37, for a total transaction of $189,999.00. Following the sale, the vice president now directly owns 12,372 shares in the company, valued at approximately $870,617.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Caroline M. Chambers sold 19,041 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $69.95, for a total transaction of $1,331,917.95. Following the sale, the insider now directly owns 48,599 shares in the company, valued at approximately $3,399,500.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Angela F. Wordell sold 2,700 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $70.37, for a total transaction of $189,999.00. Following the sale, the vice president now owns 12,372 shares in the company, valued at $870,617.64. The disclosure for this sale can be found here. Insiders own 3.52% of the company’s stock.

Graco Profile

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Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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