Madison Asset Management LLC Sells 27,730 Shares of Graco Inc. $GGG

Madison Asset Management LLC reduced its holdings in shares of Graco Inc. (NYSE:GGG) by 5.9% during the first quarter, HoldingsChannel.com reports. The fund owned 446,119 shares of the industrial products company’s stock after selling 27,730 shares during the quarter. Madison Asset Management LLC’s holdings in Graco were worth $37,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC bought a new position in Graco in the 1st quarter valued at $26,000. Whipplewood Advisors LLC increased its position in shares of Graco by 2,650.0% during the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Field & Main Bank bought a new stake in shares of Graco during the 4th quarter worth $41,000. Geneos Wealth Management Inc. raised its stake in shares of Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares during the period. Finally, Root Financial Partners LLC boosted its holdings in shares of Graco by 43.2% in the 1st quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock worth $43,000 after buying an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Insider Buying and Selling at Graco

In other news, Director Andrea Helen Simon purchased 1,240 shares of the stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $80.53 per share, with a total value of $99,857.20. Following the completion of the acquisition, the director owned 1,240 shares in the company, valued at $99,857.20. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.18% of the stock is currently owned by corporate insiders.

Graco Price Performance

Graco stock opened at $73.59 on Tuesday. The firm has a market capitalization of $12.21 billion, a P/E ratio of 23.97, a PEG ratio of 2.40 and a beta of 0.93. Graco Inc. has a one year low of $72.51 and a one year high of $95.69. The business has a fifty day moving average price of $75.10 and a 200-day moving average price of $82.83.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The company had revenue of $540.14 million for the quarter, compared to the consensus estimate of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Sell-side analysts expect that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 annualized dividend and a dividend yield of 1.6%. Graco’s dividend payout ratio is currently 38.44%.

Wall Street Analyst Weigh In

GGG has been the subject of several research reports. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Wolfe Research lowered shares of Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Robert W. Baird dropped their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $92.00 target price (down from $95.00) on shares of Graco in a research report on Thursday. Finally, DA Davidson restated a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Graco presently has an average rating of “Hold” and a consensus price target of $93.50.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.