Timber Hill LLC Takes Position in Graco Inc. (GGG)

Timber Hill LLC purchased a new position in shares of Graco Inc. (NYSE:GGG) during the first quarter, Holdings Channel reports. The institutional investor purchased 2,485 shares of the industrial products company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GGG. Norges Bank acquired a new position in shares of Graco during the fourth quarter worth about $34,615,000. Thrivent Financial for Lutherans increased its position in shares of Graco by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,520 shares of the industrial products company’s stock worth $791,000 after buying an additional 810 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Graco by 7.8% in the third quarter. Wells Fargo & Company MN now owns 719,583 shares of the industrial products company’s stock worth $53,248,000 after buying an additional 52,138 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Graco during the fourth quarter worth about $41,069,000. Finally, Mairs & Power INC increased its position in shares of Graco by 11.1% in the third quarter. Mairs & Power INC now owns 3,265,581 shares of the industrial products company’s stock worth $241,653,000 after buying an additional 325,193 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

Graco Inc. (NYSE:GGG) traded up 0.33% on Friday, reaching $110.55. The company’s stock had a trading volume of 310,262 shares. Graco Inc. has a 1-year low of $69.33 and a 1-year high of $111.69. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 103.12 and a beta of 1.27. The firm’s 50 day moving average price is $101.93 and its 200-day moving average price is $90.61.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, April 26th. The industrial products company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.30. Graco had a return on equity of 31.04% and a net margin of 3.06%. The firm had revenue of $340.59 million for the quarter, compared to the consensus estimate of $315.62 million. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts forecast that Graco Inc. will post $4.15 earnings per share for the current year.

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GGG has been the topic of a number of research analyst reports. TheStreet downgraded Graco from a “b+” rating to a “c+” rating in a report on Monday, January 30th. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Friday, February 24th. Royal Bank of Canada upped their price target on Graco from $81.00 to $85.00 and gave the company a “sector perform” rating in a report on Wednesday, February 1st. Finally, Wunderlich downgraded Graco from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a report on Wednesday, February 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $92.00.

In related news, Director William J. Carroll sold 740 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $91.77, for a total transaction of $67,909.80. Following the transaction, the director now directly owns 22,103 shares in the company, valued at approximately $2,028,392.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Elena Polyakova sold 360,000 shares of the business’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $0.12, for a total value of $43,200.00. Over the last 90 days, insiders have sold 604,956 shares of company stock worth $13,822,472. 5.60% of the stock is owned by company insiders.

Graco Company Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

5 Day Chart for NYSE:GGG

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