Quantum Capital Management LLC NJ Reduces Position in Graco Inc. (GGG)

Quantum Capital Management LLC NJ lessened its holdings in shares of Graco Inc. (NYSE:GGG) by 30.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,868 shares of the industrial products company’s stock after selling 36,458 shares during the period. Graco accounts for approximately 1.0% of Quantum Capital Management LLC NJ’s investment portfolio, making the stock its 19th biggest position. Quantum Capital Management LLC NJ owned about 0.15% of Graco worth $10,250,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Graco by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock valued at $545,481,000 after acquiring an additional 104,725 shares in the last quarter. BlackRock Inc. grew its stake in Graco by 1.0% during the 2nd quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock valued at $482,397,000 after acquiring an additional 43,669 shares in the last quarter. Fiera Capital Corp grew its stake in Graco by 7.3% during the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after acquiring an additional 206,130 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Graco by 22.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 650,753 shares of the industrial products company’s stock valued at $71,160,000 after purchasing an additional 120,916 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Graco by 5.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 626,628 shares of the industrial products company’s stock valued at $77,514,000 after purchasing an additional 30,413 shares during the last quarter. 86.67% of the stock is owned by institutional investors.

Shares of Graco Inc. (NYSE:GGG) opened at $130.70 on Friday. Graco Inc. has a 52 week low of $80.75 and a 52 week high of $134.11. The firm has a market cap of $7,336.19, a P/E ratio of 28.54, a P/E/G ratio of 2.86 and a beta of 1.25. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share 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 the consensus estimate of $356.30 million. During the same period in the prior year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. analysts predict that Graco Inc. will post 4.36 earnings per share for the current year.

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, October 13th. Graco’s dividend payout ratio is presently 75.79%.

Several equities analysts have weighed in on GGG shares. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Monday, July 31st. BidaskClub upgraded shares of Graco from a “hold” rating to a “buy” rating in a report on Friday, August 18th. SunTrust Banks, Inc. restated a “hold” rating and issued a $128.00 price objective on shares of Graco in a report on Friday, October 27th. Robert W. Baird restated a “hold” rating and issued a $135.00 price objective on shares of Graco in a report on Friday, October 27th. Finally, 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. Eleven research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $116.75.

In related news, VP Caroline M. Chambers sold 10,000 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $131.56, for a total value of $1,315,600.00. Following the transaction, the vice president now directly owns 15,191 shares of the company’s stock, valued at approximately $1,998,527.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Etchart sold 757 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $119.20, for a total transaction of $90,234.40. Following the completion of the transaction, the director now directly owns 12,464 shares in the company, valued at $1,485,708.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 734,018 shares of company stock worth $19,672,731. Insiders own 5.70% of the company’s stock.

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Graco 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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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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