Bryce Point Capital LLC Acquires New Holdings in Graco Inc. (NYSE:GGG)

Bryce Point Capital LLC bought a new position in shares of Graco Inc. (NYSE:GGG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,375 shares of the industrial products company’s stock, valued at approximately $1,296,000.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in Graco by 26,738.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,841,916 shares of the industrial products company’s stock worth $155,255,000 after acquiring an additional 1,835,053 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of Graco by 462.0% during the fourth quarter. Trexquant Investment LP now owns 63,923 shares of the industrial products company’s stock worth $5,388,000 after purchasing an additional 52,549 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Graco by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,229,385 shares of the industrial products company’s stock valued at $356,053,000 after buying an additional 77,093 shares during the period. Franklin Resources Inc. raised its holdings in Graco by 12.9% in the 4th quarter. Franklin Resources Inc. now owns 135,091 shares of the industrial products company’s stock valued at $11,387,000 after buying an additional 15,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in Graco by 78.7% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 14,016 shares of the industrial products company’s stock worth $1,181,000 after buying an additional 6,173 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Graco Stock Up 0.3 %

GGG opened at $84.66 on Thursday. Graco Inc. has a twelve month low of $77.49 and a twelve month high of $93.01. The company has a fifty day moving average of $84.94 and a 200-day moving average of $85.66. The stock has a market cap of $14.23 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83.

Graco (NYSE:GGG) last issued its quarterly earnings results 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 return on equity of 19.38% and a net margin of 23.00%. Sell-side analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s dividend payout ratio (DPR) is presently 39.01%.

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.