Port Capital LLC purchased a new position in Graco Inc. (NYSE:GGG) during the fourth quarter, Holdings Channel reports. The firm purchased 126,000 shares of the industrial products company’s stock, valued at approximately $5,698,000. Graco accounts for approximately 2.5% of Port Capital LLC’s portfolio, making the stock its 16th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Cardinal Capital Management boosted its stake in Graco by 6.8% in the 3rd quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock worth $942,000 after purchasing an additional 488 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Graco by 4.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 108,820 shares of the industrial products company’s stock worth $13,460,000 after purchasing an additional 5,072 shares in the last quarter. Prudential Financial Inc. boosted its stake in Graco by 6.3% in the 3rd quarter. Prudential Financial Inc. now owns 348,478 shares of the industrial products company’s stock worth $43,103,000 after purchasing an additional 20,740 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Graco by 24.3% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 26,179 shares of the industrial products company’s stock worth $3,238,000 after purchasing an additional 5,126 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in Graco in the 2nd quarter worth about $582,000. Institutional investors own 29.92% of the company’s stock.

In other news, CFO Christian E. Rothe sold 12,750 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $132.01, for a total transaction of $1,683,127.50. Following the completion of the sale, the chief financial officer now owns 16,905 shares of the company’s stock, valued at approximately $2,231,629.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark W. Sheahan sold 30,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $131.31, for a total transaction of $3,939,300.00. Following the sale, the vice president now directly owns 49,538 shares of the company’s stock, valued at approximately $6,504,834.78. The disclosure for this sale can be found here. Insiders have sold a total of 683,252 shares of company stock worth $19,541,950 in the last 90 days. Company insiders own 5.70% of the company’s stock.

A number of equities analysts recently issued reports on the stock. B. Riley reiterated a “neutral” rating on shares of Graco in a research note on Wednesday, November 1st. Robert W. Baird reiterated a “hold” rating and issued a $43.00 price target on shares of Graco in a research note on Wednesday, October 4th. KeyCorp reiterated a “hold” rating on shares of Graco in a research note on Friday, October 20th. Deutsche Bank upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday. Finally, ValuEngine cut shares of Graco from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $43.70.

Graco Inc. (NYSE GGG) traded down $0.21 on Thursday, reaching $48.80. 665,375 shares of the company’s stock traded hands, compared to its average volume of 688,122. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. The company has a market cap of $8,220.00, a PE ratio of 78.71, a P/E/G ratio of 2.93 and a beta of 1.24. Graco Inc. has a 1-year low of $29.14 and a 1-year high of $49.69.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The business had revenue of $379.81 million for the quarter, compared to analysts’ expectations of $356.30 million. Graco had a net margin of 7.72% and a return on equity of 42.05%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. research analysts forecast that Graco Inc. will post 1.46 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Monday, January 22nd will be paid a dividend of $0.3975 per share. The ex-dividend date is Friday, January 19th. This represents a $1.59 annualized dividend and a yield of 3.26%. This is a boost from Graco’s previous quarterly dividend of $0.36. Graco’s dividend payout ratio is currently 85.48%.

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About Graco

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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