Madison Asset Management LLC Sells 25,392 Shares of Graco Inc. $GGG

Madison Asset Management LLC trimmed its holdings in Graco Inc. (NYSE:GGG) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 473,849 shares of the industrial products company’s stock after selling 25,392 shares during the period. Madison Asset Management LLC owned 0.29% of Graco worth $38,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Root Financial Partners LLC acquired a new stake in Graco during the third quarter worth about $29,000. CX Institutional raised its position in shares of Graco by 316.7% in the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after buying an additional 361 shares in the last quarter. Assetmark Inc. raised its position in shares of Graco by 42.6% in the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after buying an additional 139 shares in the last quarter. Field & Main Bank bought a new stake in shares of Graco during the 4th quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 452 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Down 0.3%

NYSE GGG opened at $77.13 on Wednesday. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.47 and a beta of 0.96. Graco Inc. has a twelve month low of $76.88 and a twelve month high of $95.69. The stock has a fifty day simple moving average of $85.06 and a 200 day simple moving average of $85.28.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The company had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same period in the previous year, the firm posted $0.70 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts expect that Graco Inc. will post 3.13 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Monday, April 13th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, April 13th. Graco’s payout ratio is currently 38.44%.

Insider Buying and Selling

In other news, Director Andrea Helen Simon bought 1,240 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the transaction, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GGG has been the topic of a number of recent analyst reports. Robert W. Baird decreased their target price on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Weiss Ratings lowered shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. DA Davidson reiterated a “neutral” rating and set a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. KeyCorp reissued a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Graco in a report on Friday, April 24th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $94.25.

Graco Company 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.