Advisors Asset Management Inc. maintained its stake in shares of Graco Inc. (NYSE:GGG) during the second quarter, Holdings Channel reports. The institutional investor owned 1,450 shares of the company’s stock at the end of the second quarter. Advisors Asset Management Inc.’s holdings in Graco were worth $115,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of GGG. Norges Bank purchased a new stake in shares of Graco during the fourth quarter valued at approximately $32,007,000. Aperio Group LLC increased its stake in shares of Graco by 8.3% in the first quarter. Aperio Group LLC now owns 10,906 shares of the company’s stock valued at $916,000 after buying an additional 833 shares in the last quarter. Ngam Advisors L.P. increased its stake in shares of Graco by 7.9% in the first quarter. Ngam Advisors L.P. now owns 17,501 shares of the company’s stock valued at $1,469,000 after buying an additional 1,279 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Graco by 5.0% in the first quarter. TIAA CREF Investment Management LLC now owns 135,201 shares of the company’s stock valued at $11,351,000 after buying an additional 6,496 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Graco by 179.5% in the first quarter. Prudential Financial Inc. now owns 96,506 shares of the company’s stock valued at $8,103,000 after buying an additional 61,975 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.
Graco Inc. (NYSE:GGG) traded down 3.87% on Friday, reaching $72.12. 368,070 shares of the company’s stock were exchanged. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 21.26 and a beta of 1.51. The stock’s 50 day moving average is $74.06 and its 200 day moving average is $77.94. Graco Inc. has a 52 week low of $63.05 and a 52 week high of $86.62.
Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.00 by $0.11. The firm had revenue of $348.10 million for the quarter, compared to the consensus estimate of $352.49 million. Graco had a return on equity of 30.04% and a net margin of 15.01%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. On average, equities analysts anticipate that Graco Inc. will post $3.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Monday, October 17th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, October 13th. Graco’s payout ratio is currently 38.94%.
Several equities research analysts have recently commented on GGG shares. Zacks Investment Research downgraded shares of Graco from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. William Blair downgraded shares of Graco from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $89.00 to $78.00 in a research note on Thursday, July 21st. Finally, Deutsche Bank AG initiated coverage on shares of Graco in a research report on Tuesday, September 6th. They set a “hold” rating and a $83.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $83.75.
In related news, insider Patrick J. Mchale sold 11,500 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $74.19, for a total value of $853,185.00. Following the transaction, the insider now owns 142,230 shares in the company, valued at $10,552,043.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by corporate insiders.
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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