Assetmark Inc. Acquires 1,905 Shares of Graco Inc. (NYSE:GGG)

Assetmark Inc. grew its holdings in Graco Inc. (NYSE:GGG) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,605 shares of the industrial products company’s stock after acquiring an additional 1,905 shares during the period. Assetmark Inc.’s holdings in Graco were worth $1,568,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GGG. Van ECK Associates Corp raised its position in Graco by 11.0% in the third quarter. Van ECK Associates Corp now owns 33,862 shares of the industrial products company’s stock worth $2,807,000 after acquiring an additional 3,358 shares during the period. Equitable Trust Co. raised its position in shares of Graco by 2.3% during the 3rd quarter. Equitable Trust Co. now owns 6,664 shares of the industrial products company’s stock valued at $583,000 after purchasing an additional 147 shares during the period. Atria Investments Inc raised its position in shares of Graco by 17.6% during the 3rd quarter. Atria Investments Inc now owns 18,053 shares of the industrial products company’s stock valued at $1,580,000 after purchasing an additional 2,708 shares during the period. Venturi Wealth Management LLC raised its position in shares of Graco by 498.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,687 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 1,405 shares during the period. Finally, WealthPlan Investment Management LLC raised its position in shares of Graco by 5.2% during the 3rd quarter. WealthPlan Investment Management LLC now owns 124,131 shares of the industrial products company’s stock valued at $10,863,000 after purchasing an additional 6,169 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Performance

GGG opened at $86.85 on Tuesday. The stock has a market capitalization of $14.72 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 2.85 and a beta of 0.83. The company has a fifty day moving average of $84.89 and a 200 day moving average of $85.46. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $94.77.

Graco (NYSE:GGG) last issued its quarterly earnings data 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 return on equity of 19.38% and a net margin of 23.00%. On average, equities research analysts forecast that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a dividend of $0.275 per share. The ex-dividend date is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.27%. Graco’s dividend payout ratio is presently 39.01%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GGG. BNP Paribas upgraded shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Thursday, December 19th. DA Davidson set a $85.00 price objective on shares of Graco in a research report on Friday, January 31st. Finally, Royal Bank of Canada raised their price objective 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. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.00.

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.