Sei Investments Co. lowered its stake in Graco Inc. (NYSE:GGG) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,630 shares of the industrial products company’s stock after selling 31,967 shares during the quarter. Sei Investments Co. owned about 0.34% of Graco worth $23,455,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in Graco by 0.5% in the third quarter. Principal Financial Group Inc. now owns 241,492 shares of the industrial products company’s stock worth $29,870,000 after purchasing an additional 1,241 shares during the period. Prudential Financial Inc. lifted its holdings in Graco by 6.3% in the third quarter. Prudential Financial Inc. now owns 348,478 shares of the industrial products company’s stock worth $43,103,000 after purchasing an additional 20,740 shares during the period. State of Tennessee Treasury Department lifted its holdings in Graco by 63.8% in the third quarter. State of Tennessee Treasury Department now owns 65,500 shares of the industrial products company’s stock worth $8,102,000 after purchasing an additional 25,500 shares during the period. Chicago Equity Partners LLC lifted its holdings in Graco by 449.0% in the third quarter. Chicago Equity Partners LLC now owns 54,900 shares of the industrial products company’s stock worth $6,791,000 after purchasing an additional 44,900 shares during the period. Finally, Old Mutual Global Investors UK Ltd. lifted its holdings in Graco by 244.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 183,685 shares of the industrial products company’s stock worth $22,719,000 after purchasing an additional 130,312 shares during the period. 86.40% of the stock is owned by institutional investors and hedge funds.
Shares of Graco Inc. (NYSE:GGG) opened at $128.82 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.23 and a quick ratio of 1.46. Graco Inc. has a 1 year low of $79.83 and a 1 year high of $134.11. The company has a market cap of $7,306.44, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.
Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.06 by $0.09. Graco had a net margin of 7.72% and a return on equity of 42.05%. The firm had revenue of $379.81 million for the quarter, compared to analysts’ expectations of $356.30 million. During the same period in the previous year, the business earned $0.95 earnings per share. Graco’s revenue for the quarter was up 16.1% compared to the same quarter last year. equities analysts anticipate that Graco Inc. will post 4.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, October 13th. Graco’s dividend payout ratio (DPR) is presently 75.79%.
In other Graco news, VP Charles L. Rescorla sold 47,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $129.93, for a total transaction of $6,106,710.00. Following the sale, the vice president now owns 108,802 shares in the company, valued at approximately $14,136,643.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel Stolyarov sold 500,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $0.11, for a total value of $55,000.00. Over the last quarter, insiders sold 718,116 shares of company stock worth $17,588,337. 5.70% of the stock is owned by company insiders.
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GGG has been the subject of several research analyst reports. FBR & Co set a $140.00 price objective on shares of Graco and gave the stock a “hold” rating in a report on Thursday, October 26th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $128.00 price objective on shares of Graco in a report on Friday, October 27th. Wolfe Research raised shares of Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 price objective for the company in a report on Monday, July 31st. Zacks Investment Research downgraded shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Graco in a report on Friday, July 28th. Eleven investment analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $116.75.
Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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