Albert D Mason Inc. Has $2.43 Million Position in Graco Inc. (NYSE:GGG)

Albert D Mason Inc. increased its holdings in shares of Graco Inc. (NYSE:GGG) by 9.6% during the third quarter, Holdings Channel reports. The fund owned 27,802 shares of the industrial products company’s stock after acquiring an additional 2,431 shares during the quarter. Graco comprises about 1.6% of Albert D Mason Inc.’s holdings, making the stock its 13th biggest holding. Albert D Mason Inc.’s holdings in Graco were worth $2,433,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GGG. Gradient Investments LLC acquired a new position in Graco in the 2nd quarter valued at $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Graco during the 1st quarter worth $43,000. UMB Bank n.a. lifted its position in shares of Graco by 187.8% during the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock worth $43,000 after buying an additional 323 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Graco by 220.9% during the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after buying an additional 475 shares during the last quarter. Finally, Tobam lifted its position in shares of Graco by 90.2% during the 1st quarter. Tobam now owns 601 shares of the industrial products company’s stock worth $56,000 after buying an additional 285 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on GGG. Robert W. Baird dropped their price objective on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. DA Davidson reissued a “neutral” rating and set a $79.00 price target on shares of Graco in a research note on Friday, September 27th. Finally, Royal Bank of Canada cut their price target on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Graco has a consensus rating of “Hold” and an average price target of $90.25.

Graco Stock Performance

Shares of GGG stock opened at $83.82 on Wednesday. The company has a market cap of $14.18 billion, a P/E ratio of 28.90, a PEG ratio of 2.88 and a beta of 0.81. The stock has a 50 day simple moving average of $83.83 and a two-hundred day simple moving average of $82.79. Graco Inc. has a fifty-two week low of $69.78 and a fifty-two week high of $94.77.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $553.20 million during the quarter, compared to the consensus estimate of $562.27 million. Graco had a return on equity of 22.40% and a net margin of 23.16%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. On average, research analysts predict that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.02 annualized dividend and a dividend yield of 1.22%. Graco’s dividend payout ratio is 35.17%.

Graco 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.