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

Bank of Montreal Can lifted its stake in Graco Inc. (NYSE:GGGGet Rating) by 92.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 167,238 shares of the industrial products company’s stock after acquiring 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nuance Investments LLC grew its holdings in shares of Graco by 213.4% during the 2nd quarter. Nuance Investments LLC now owns 679,976 shares of the industrial products company’s stock worth $40,397,000 after purchasing an additional 463,015 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Graco during the first quarter worth $24,447,000. State Street Corp grew its stake in shares of Graco by 5.9% during the first quarter. State Street Corp now owns 6,002,722 shares of the industrial products company’s stock worth $418,510,000 after purchasing an additional 331,804 shares during the period. Fiera Capital Corp grew its stake in Graco by 2.0% in the second quarter. Fiera Capital Corp now owns 10,106,956 shares of the industrial products company’s stock valued at $600,455,000 after acquiring an additional 202,136 shares during the period. Finally, TD Asset Management Inc. grew its stake in Graco by 78.6% in the first quarter. TD Asset Management Inc. now owns 457,508 shares of the industrial products company’s stock valued at $31,897,000 after acquiring an additional 201,335 shares during the period. Institutional investors and hedge funds own 86.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on Graco from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Monday, November 14th. StockNews.com lowered Graco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Finally, DA Davidson dropped their price objective on Graco to $70.00 in a research note on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Graco currently has a consensus rating of “Hold” and an average price target of $69.50.

Insider Buying and Selling

In related news, VP Angela F. Wordell sold 2,700 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was 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 of the company’s stock, valued at $870,617.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Graco news, insider Caroline M. Chambers sold 19,041 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $69.95, for a total value of $1,331,917.95. Following the sale, the insider now owns 48,599 shares of the company’s stock, valued at approximately $3,399,500.05. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $189,999.00. Following the completion of the sale, the vice president now directly owns 12,372 shares in the company, valued at approximately $870,617.64. The disclosure for this sale can be found here. 3.52% of the stock is currently owned by company insiders.

Graco Trading Down 0.1 %

Shares of NYSE:GGG opened at $70.08 on Thursday. The company has a market capitalization of $11.81 billion, a P/E ratio of 26.75, a P/E/G ratio of 3.38 and a beta of 0.81. Graco Inc. has a 1 year low of $56.48 and a 1 year high of $81.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.99 and a quick ratio of 1.91. The business’s 50 day simple moving average is $64.88 and its 200 day simple moving average is $63.63.

Graco Announces Dividend

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

Graco Company Profile

(Get Rating)

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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