JLB & Associates Inc. Has $18.50 Million Stock Position in Graco Inc. (NYSE:GGG)

JLB & Associates Inc. lessened its holdings in Graco Inc. (NYSE:GGG) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,457 shares of the industrial products company’s stock after selling 3,467 shares during the period. Graco comprises 2.5% of JLB & Associates Inc.’s investment portfolio, making the stock its 16th biggest holding. JLB & Associates Inc. owned 0.13% of Graco worth $18,498,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in Graco during the 4th quarter worth approximately $25,000. Brooklyn Investment Group bought a new stake in Graco during the third quarter worth $30,000. Eastern Bank bought a new stake in Graco during the third quarter worth $59,000. Catalyst Capital Advisors LLC purchased a new stake in Graco in the 4th quarter valued at $61,000. Finally, MilWealth Group LLC bought a new position in Graco during the 4th quarter valued at $63,000. Institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

Shares of NYSE:GGG opened at $87.28 on Friday. The company has a market capitalization of $14.74 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 2.85 and a beta of 0.84. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $94.77. The company’s 50-day moving average is $84.65 and its 200 day moving average is $84.89.

Graco (NYSE:GGG) last issued its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. As a group, research analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s payout ratio is currently 39.01%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Robert W. Baird reduced their price objective on shares of Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, BNP Paribas raised shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $91.50.

Insiders Place Their Bets

In related news, insider Caroline M. Chambers sold 8,280 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total value of $749,919.60. Following the completion of the transaction, the insider now directly owns 57,612 shares in the company, valued at approximately $5,217,918.84. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $90.30, for a total value of $137,888.10. Following the sale, the executive vice president now owns 6,374 shares in the company, valued at $575,572.20. The trade was a 19.33 % decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by corporate insiders.

About Graco

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.