Alps Advisors Inc. cut its stake in Graco Inc. (NYSE:GGG) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 4,923 shares of the company’s stock after selling 360 shares during the period. Alps Advisors Inc.’s holdings in Graco were worth $389,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Graco by 1.9% in the first quarter. Geode Capital Management LLC now owns 329,723 shares of the company’s stock valued at $27,683,000 after buying an additional 6,252 shares in the last quarter. British Airways Pensions Investment Management Ltd increased its position in shares of Graco by 99.8% in the second quarter. British Airways Pensions Investment Management Ltd now owns 183,670 shares of the company’s stock valued at $14,566,000 after buying an additional 91,760 shares in the last quarter. UBS Group AG increased its position in shares of Graco by 19.3% in the first quarter. UBS Group AG now owns 53,374 shares of the company’s stock valued at $4,481,000 after buying an additional 8,618 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Graco by 3,552.8% in the second quarter. BNP Paribas Arbitrage SA now owns 21,990 shares of the company’s stock valued at $1,737,000 after buying an additional 21,388 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Graco by 179.5% in the first quarter. Prudential Financial Inc. now owns 96,506 shares of the company’s stock valued at $8,103,000 after buying an additional 61,975 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.
Shares of Graco Inc. (NYSE:GGG) traded down 0.40% during midday trading on Monday, hitting $71.83. 201,823 shares of the stock traded hands. Graco Inc. has a 52 week low of $63.05 and a 52 week high of $86.62. The firm’s 50-day moving average is $74.06 and its 200 day moving average is $77.94. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 21.17 and a beta of 1.51.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.11. Graco had a net margin of 15.01% and a return on equity of 30.04%. The business earned $348.10 million during the quarter, compared to analyst estimates of $352.49 million. During the same quarter last year, the company posted $1.05 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that Graco Inc. will post $3.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Monday, October 17th will be paid a $0.33 dividend. The ex-dividend date is Thursday, October 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.84%. Graco’s dividend payout ratio (DPR) is presently 38.94%.
GGG has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Graco from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. William Blair downgraded shares of Graco from an “outperform” rating to a “market perform” rating and cut their price target for the company from $89.00 to $78.00 in a report on Thursday, July 21st. Finally, Deutsche Bank AG initiated coverage on shares of Graco in a report on Tuesday, September 6th. They set a “hold” rating and a $83.00 price target for the company. Nine analysts have rated the stock with a hold rating, Graco presently has a consensus rating of “Hold” and an average target price of $83.75.
In related news, insider Patrick J. Mchale sold 11,500 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $74.19, for a total value of $853,185.00. Following the transaction, the insider now directly owns 142,230 shares in the company, valued at $10,552,043.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is currently owned by corporate insiders.
Graco Company Profile
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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