Leavell Investment Management Inc. decreased its position in Graco Inc. (NYSE:GGG) by 35.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,551 shares of the industrial products company’s stock after selling 8,000 shares during the period. Leavell Investment Management Inc.’s holdings in Graco were worth $721,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. MML Investors Services LLC boosted its stake in shares of Graco by 6.4% during the 4th quarter. MML Investors Services LLC now owns 9,166 shares of the industrial products company’s stock valued at $384,000 after buying an additional 554 shares during the period. Rhumbline Advisers boosted its stake in shares of Graco by 27.5% during the 4th quarter. Rhumbline Advisers now owns 480,016 shares of the industrial products company’s stock valued at $20,089,000 after buying an additional 103,523 shares during the period. Arizona State Retirement System boosted its stake in shares of Graco by 0.7% during the 4th quarter. Arizona State Retirement System now owns 119,458 shares of the industrial products company’s stock valued at $4,999,000 after buying an additional 773 shares during the period. State of Tennessee Treasury Department raised its holdings in shares of Graco by 2.0% during the 4th quarter. State of Tennessee Treasury Department now owns 119,585 shares of the industrial products company’s stock valued at $5,005,000 after purchasing an additional 2,377 shares in the last quarter. Finally, Suntrust Banks Inc. raised its holdings in shares of Graco by 3.5% during the 4th quarter. Suntrust Banks Inc. now owns 58,771 shares of the industrial products company’s stock valued at $2,459,000 after purchasing an additional 1,968 shares in the last quarter. 85.71% of the stock is owned by institutional investors.
Shares of NYSE GGG opened at $52.78 on Wednesday. Graco Inc. has a 1-year low of $37.36 and a 1-year high of $53.15. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 2.69 and a beta of 0.98. The company has a quick ratio of 1.47, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, April 12th. Graco’s dividend payout ratio (DPR) is presently 34.04%.
GGG has been the topic of several recent analyst reports. ValuEngine upgraded shares of Graco from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Royal Bank of Canada reiterated a “hold” rating and issued a $46.00 target price on shares of Graco in a report on Wednesday, January 30th. Jefferies Financial Group assumed coverage on shares of Graco in a report on Friday, January 25th. They issued a “hold” rating and a $46.00 target price on the stock. Seaport Global Securities restated a “hold” rating on shares of Graco in a report on Wednesday, January 30th. Finally, Zacks Investment Research downgraded shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, February 1st. Eight analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $46.20.
In related news, insider Dale D. Johnson sold 90,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $47.85, for a total value of $4,306,500.00. Following the completion of the sale, the insider now owns 302,873 shares of the company’s stock, valued at $14,492,473.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Sheahan sold 54,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $47.17, for a total value of $2,547,180.00. Following the completion of the sale, the chief financial officer now directly owns 113,410 shares of the company’s stock, valued at approximately $5,349,549.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,938 shares of company stock valued at $15,347,569. Insiders own 4.23% of the company’s stock.
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Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.
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