Graco Inc. (NYSE:GGG) Shares Acquired by Swiss National Bank

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Swiss National Bank increased its position in Graco Inc. (NYSE:GGG) by 1.4% in the second quarter, Holdings Channel reports. The firm owned 307,600 shares of the industrial products company’s stock after purchasing an additional 4,300 shares during the quarter. Swiss National Bank’s holdings in Graco were worth $15,435,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GGG. Envestnet Asset Management Inc. boosted its position in shares of Graco by 13.7% during the second quarter. Envestnet Asset Management Inc. now owns 195,957 shares of the industrial products company’s stock worth $9,833,000 after buying an additional 23,570 shares during the period. Kavar Capital Partners LLC acquired a new position in shares of Graco during the second quarter worth approximately $43,000. Stephens Inc. AR boosted its position in shares of Graco by 5.0% during the second quarter. Stephens Inc. AR now owns 6,440 shares of the industrial products company’s stock worth $323,000 after buying an additional 307 shares during the period. Wedbush Securities Inc. boosted its position in shares of Graco by 3.5% during the second quarter. Wedbush Securities Inc. now owns 9,578 shares of the industrial products company’s stock worth $481,000 after buying an additional 321 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Graco during the second quarter worth approximately $566,000. Institutional investors and hedge funds own 84.79% of the company’s stock.

Several brokerages have recently issued reports on GGG. ValuEngine downgraded Graco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating and set a $49.00 price objective for the company in a research report on Wednesday, May 29th. Finally, Robert W. Baird set a $50.00 price objective on Graco and gave the stock a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.20.

In related news, insider Jeffrey P. Johnson sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $48.85, for a total transaction of $732,750.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.23% of the stock is owned by insiders.

Shares of NYSE:GGG opened at $44.13 on Friday. Graco Inc. has a 12 month low of $37.36 and a 12 month high of $53.91. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 2.07 and a beta of 0.97. The stock’s 50 day moving average price is $48.19 and its 200 day moving average price is $48.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.39.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). Graco had a return on equity of 39.22% and a net margin of 20.61%. The firm had revenue of $428.30 million for the quarter, compared to the consensus estimate of $444.93 million. During the same period in the previous year, the firm earned $0.48 EPS. Graco’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts expect that Graco Inc. will post 1.91 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Monday, July 22nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.64 annualized dividend and a yield of 1.45%. Graco’s payout ratio is 34.04%.

Graco Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG).

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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