Campbell & CO Investment Adviser LLC Makes New Investment in Graco Inc. (NYSE:GGG)

Campbell & CO Investment Adviser LLC bought a new stake in Graco Inc. (NYSE:GGGFree Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,038 shares of the industrial products company’s stock, valued at approximately $732,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. grew its stake in Graco by 16.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,198 shares of the industrial products company’s stock worth $306,000 after buying an additional 585 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Graco by 24.0% during the third quarter. Teacher Retirement System of Texas now owns 147,612 shares of the industrial products company’s stock worth $10,758,000 after buying an additional 28,589 shares during the last quarter. Fifth Third Bancorp grew its stake in Graco by 47.7% during the second quarter. Fifth Third Bancorp now owns 1,920 shares of the industrial products company’s stock worth $166,000 after buying an additional 620 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Graco by 3.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,253 shares of the industrial products company’s stock worth $1,922,000 after buying an additional 717 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Graco by 458.5% during the second quarter. Van ECK Associates Corp now owns 24,998 shares of the industrial products company’s stock worth $2,159,000 after buying an additional 20,522 shares during the last quarter. Institutional investors own 84.94% of the company’s stock.

Graco Price Performance

GGG opened at $88.16 on Friday. Graco Inc. has a one year low of $66.17 and a one year high of $88.31. The company’s 50 day simple moving average is $84.94 and its 200-day simple moving average is $79.42. The stock has a market capitalization of $14.88 billion, a P/E ratio of 29.99, a price-to-earnings-growth ratio of 2.81 and a beta of 0.81.

Graco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Monday, January 22nd were issued a $0.255 dividend. This is a positive change from Graco’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, January 19th. Graco’s dividend payout ratio is currently 34.69%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com raised shares of Graco from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada upped their price objective on shares of Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Jefferies Financial Group increased their price target on shares of Graco from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.80.

Read Our Latest Stock Analysis on GGG

Insider Activity at Graco

In related news, CEO Mark W. Sheahan sold 12,884 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $83.37, for a total value of $1,074,139.08. Following the transaction, the chief executive officer now directly owns 93,182 shares in the company, valued at $7,768,583.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Mark W. Sheahan sold 12,884 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $83.37, for a total value of $1,074,139.08. Following the transaction, the chief executive officer now directly owns 93,182 shares in the company, valued at $7,768,583.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn L. Schoenrock sold 392 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $80.79, for a total transaction of $31,669.68. Following the completion of the transaction, the executive vice president now owns 5,059 shares in the company, valued at $408,716.61. The disclosure for this sale can be found here. Insiders have sold 32,024 shares of company stock worth $2,645,923 over the last ninety days. Company insiders own 2.98% of the company’s stock.

Graco Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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