Retirement Systems of Alabama cut its stake in Graco Inc. (NYSE:GGG) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,048 shares of the industrial products company’s stock after selling 5,215 shares during the quarter. Retirement Systems of Alabama owned about 0.19% of Graco worth $13,488,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in GGG. Prudential Financial Inc. grew its stake in shares of Graco by 19.0% during the second quarter. Prudential Financial Inc. now owns 327,738 shares of the industrial products company’s stock valued at $35,816,000 after acquiring an additional 52,346 shares in the last quarter. BB&T Securities LLC grew its stake in shares of Graco by 0.5% during the second quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock valued at $757,000 after acquiring an additional 36 shares in the last quarter. Cardinal Capital Management grew its stake in shares of Graco by 6.8% during the third quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock valued at $942,000 after acquiring an additional 488 shares in the last quarter. Morgan Stanley grew its stake in shares of Graco by 12.3% during the first quarter. Morgan Stanley now owns 148,597 shares of the industrial products company’s stock valued at $13,989,000 after acquiring an additional 16,224 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Graco by 8.4% during the second quarter. JPMorgan Chase & Co. now owns 305,782 shares of the industrial products company’s stock valued at $33,416,000 after acquiring an additional 23,718 shares in the last quarter. 86.40% of the stock is currently owned by institutional investors.
Graco Inc. (GGG) opened at $129.67 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. Graco Inc. has a 52 week low of $80.20 and a 52 week high of $134.11. The company has a market capitalization of $7,202.04, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.09. Graco had a return on equity of 42.05% and a net margin of 7.72%. The company had revenue of $379.81 million during the quarter, compared to the consensus estimate of $356.30 million. During the same period in the previous year, the firm posted $0.95 earnings per share. Graco’s quarterly revenue was up 16.1% compared to the same quarter last year. equities research analysts predict that Graco Inc. will post 4.36 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.11%. Graco’s payout ratio is currently 75.79%.
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In other news, insider Daniel Stolyarov sold 500,000 shares of Graco stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $0.11, for a total transaction of $55,000.00. Also, VP Mark W. Sheahan sold 30,000 shares of Graco stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $131.31, for a total value of $3,939,300.00. Following the sale, the vice president now directly owns 49,538 shares in the company, valued at approximately $6,504,834.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 718,116 shares of company stock valued at $17,588,337. 5.70% of the stock is currently owned by insiders.
A number of research firms recently commented on GGG. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $128.00 price target on shares of Graco in a research note on Friday, October 27th. Robert W. Baird reiterated a “hold” rating and issued a $135.00 price target on shares of Graco in a research note on Friday, October 27th. Zacks Investment Research downgraded Graco from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. B. Riley reiterated a “neutral” rating on shares of Graco in a research note on Wednesday, November 1st. Finally, FBR & Co set a $140.00 price target on Graco and gave the stock a “hold” rating in a research note on Thursday, October 26th. Eleven investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus target price of $116.75.
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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