Cooke & Bieler LP lowered its stake in Graco Inc. (NYSE:GGG) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 161,213 shares of the company’s stock after selling 870 shares during the period. Cooke & Bieler LP’s holdings in Graco were worth $12,734,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Park National Corp OH increased its stake in shares of Graco by 0.4% in the second quarter. Park National Corp OH now owns 2,733 shares of the company’s stock valued at $216,000 after buying an additional 11 shares during the period. Capstone Asset Management Co. increased its stake in shares of Graco by 2.0% in the second quarter. Capstone Asset Management Co. now owns 5,686 shares of the company’s stock valued at $449,000 after buying an additional 110 shares during the period. Albert D Mason Inc. increased its stake in shares of Graco by 0.4% in the second quarter. Albert D Mason Inc. now owns 31,065 shares of the company’s stock valued at $2,454,000 after buying an additional 121 shares during the period. Creative Planning increased its stake in shares of Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock valued at $107,000 after buying an additional 165 shares during the period. Finally, Whittier Trust Co. increased its stake in shares of Graco by 1.0% in the second quarter. Whittier Trust Co. now owns 21,906 shares of the company’s stock valued at $1,730,000 after buying an additional 227 shares during the period. Institutional investors own 90.53% of the company’s stock.
Shares of Graco Inc. (NYSE:GGG) traded down 0.15% during mid-day trading on Tuesday, hitting $71.81. The company had a trading volume of 136,055 shares. Graco Inc. has a 52-week low of $63.05 and a 52-week high of $86.62. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 21.16 and a beta of 1.51. The stock’s 50-day moving average is $73.38 and its 200-day moving average is $77.40.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.00 by $0.11. Graco had a net margin of 15.01% and a return on equity of 30.04%. The company earned $348.10 million during the quarter, compared to analysts’ expectations of $352.49 million. During the same period last year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that Graco Inc. will post $3.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Monday, October 17th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, October 13th. Graco’s payout ratio is 38.94%.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Deutsche Bank AG started coverage on Graco in a research report on Tuesday, September 6th. They set a “hold” rating and a $83.00 price objective for the company. Finally, William Blair cut Graco from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $89.00 to $78.00 in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $83.75.
In other news, insider Patrick J. Mchale sold 11,500 shares of Graco stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $74.19, for a total transaction of $853,185.00. Following the sale, the insider now directly owns 142,230 shares of the company’s stock, valued at $10,552,043.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.
Graco Company Profile
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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