UBS Asset Management Americas Inc. decreased its position in Graco Inc. (NYSE:GGG) by 41.6% during the second quarter, Holdings Channel reports. The fund owned 65,641 shares of the company’s stock after selling 46,674 shares during the period. UBS Asset Management Americas Inc. owned about 0.12% of Graco worth $5,184,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of GGG. Park National Corp OH boosted its stake in Graco by 0.4% in the second quarter. Park National Corp OH now owns 2,733 shares of the company’s stock worth $216,000 after buying an additional 11 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Graco by 2.0% in the second quarter. Capstone Asset Management Co. now owns 5,686 shares of the company’s stock worth $449,000 after buying an additional 110 shares during the last quarter. Albert D Mason Inc. boosted its stake in Graco by 0.4% in the second quarter. Albert D Mason Inc. now owns 31,065 shares of the company’s stock worth $2,454,000 after buying an additional 121 shares during the last quarter. Creative Planning boosted its stake in Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock worth $107,000 after buying an additional 165 shares during the last quarter. Finally, Utah Retirement Systems boosted its stake in Graco by 2.0% in the second quarter. Utah Retirement Systems now owns 10,078 shares of the company’s stock worth $796,000 after buying an additional 200 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
Graco Inc. (NYSE:GGG) traded down 0.44% during trading on Thursday, reaching $73.86. 74,404 shares of the company traded hands. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 21.77 and a beta of 1.54. The firm’s 50 day moving average price is $74.01 and its 200 day moving average price is $78.35. Graco Inc. has a 12-month low of $63.05 and a 12-month high of $86.62.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 20th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.11. Graco had a return on equity of 30.04% and a net margin of 15.01%. The firm earned $348.10 million during the quarter, compared to analysts’ expectations of $352.49 million. During the same quarter in the prior year, the company earned $1.05 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts expect that Graco Inc. will post $3.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, October 13th. Graco’s dividend payout ratio is presently 38.94%.
A number of research firms have weighed in on GGG. Zacks Investment Research raised shares of Graco from a “sell” rating to a “hold” rating in a research note on Monday. Deutsche Bank AG began coverage on shares of Graco in a research note on Tuesday, September 6th. They set a “hold” rating and a $83.00 target price on the stock. Finally, William Blair cut shares of Graco from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $89.00 to $78.00 in a research note on Thursday, July 21st. Nine analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $83.75.
In other Graco news, insider Patrick J. Mchale sold 11,500 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $74.19, for a total value of $853,185.00. Following the sale, the insider now directly owns 142,230 shares in the company, valued at approximately $10,552,043.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by company 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.
Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG).
Receive News & Ratings for Graco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.