Bryce Point Capital LLC Takes $1.30 Million Position in Graco Inc. (NYSE:GGG)

Bryce Point Capital LLC bought a new stake in Graco Inc. (NYSE:GGG) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 15,375 shares of the industrial products company’s stock, valued at approximately $1,296,000.

A number of other institutional investors have also added to or reduced their stakes in GGG. Institute for Wealth Management LLC. raised its position in shares of Graco by 2.5% during the fourth quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 119 shares during the period. Albert D Mason Inc. increased its stake in Graco by 0.4% during the 4th quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company’s stock valued at $2,354,000 after purchasing an additional 121 shares in the last quarter. Optas LLC raised its holdings in Graco by 4.0% during the fourth quarter. Optas LLC now owns 3,360 shares of the industrial products company’s stock worth $283,000 after buying an additional 128 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Graco by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock valued at $41,000 after buying an additional 136 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of Graco by 1.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company’s stock valued at $1,226,000 after buying an additional 138 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Up 0.3 %

Graco stock opened at $84.66 on Thursday. The stock has a market cap of $14.23 billion, a P/E ratio of 30.02, a P/E/G ratio of 2.85 and a beta of 0.83. The company’s 50 day moving average price is $84.94 and its two-hundred day moving average price is $85.66. Graco Inc. has a 52 week low of $77.49 and a 52 week high of $93.01.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share (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%. On average, equities analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s payout ratio is 39.01%.

Wall Street Analyst Weigh In

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

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.