Cardinal Capital Management Has $2.68 Million Stock Holdings in Graco Inc. (NYSE:GGG)

Cardinal Capital Management lifted its stake in Graco Inc. (NYSE:GGG) by 2.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,567 shares of the industrial products company’s stock after purchasing an additional 626 shares during the quarter. Cardinal Capital Management’s holdings in Graco were worth $2,675,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Graco by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 17,229,664 shares of the industrial products company’s stock worth $1,494,846,000 after buying an additional 144,146 shares during the period. PineStone Asset Management Inc. lifted its position in shares of Graco by 134.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock valued at $330,532,000 after acquiring an additional 2,390,602 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Graco by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock worth $137,361,000 after purchasing an additional 91,794 shares during the period. TD Asset Management Inc grew its position in Graco by 14.5% during the 1st quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock worth $134,618,000 after purchasing an additional 182,470 shares in the last quarter. Finally, Flossbach Von Storch AG acquired a new stake in Graco during the 1st quarter valued at $111,428,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Trading Down 0.3 %

NYSE GGG opened at $85.89 on Friday. Graco Inc. has a 1-year low of $69.78 and a 1-year high of $94.77. The firm’s fifty day simple moving average is $83.52 and its 200-day simple moving average is $83.06. The company has a market capitalization of $14.53 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81.

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

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s payout ratio is presently 35.17%.

Analyst Ratings Changes

Several analysts have recently commented on the company. DA Davidson reaffirmed a “neutral” rating and issued a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Robert W. Baird reduced their price objective on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, Royal Bank of Canada lowered their target price 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $90.25.

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.