Neuberger Berman Group LLC cut its stake in Graco Inc. (NYSE:GGG) by 2.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 910,163 shares of the industrial products company’s stock after selling 24,628 shares during the period. Neuberger Berman Group LLC owned 1.63% of Graco worth $99,463,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GGG. Flinton Capital Management LLC raised its stake in shares of Graco by 2.7% in the first quarter. Flinton Capital Management LLC now owns 6,494 shares of the industrial products company’s stock valued at $611,000 after buying an additional 170 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Graco by 6.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 144,593 shares of the industrial products company’s stock valued at $13,612,000 after buying an additional 9,314 shares during the period. First Trust Advisors LP raised its stake in shares of Graco by 315.5% in the first quarter. First Trust Advisors LP now owns 104,068 shares of the industrial products company’s stock valued at $9,797,000 after buying an additional 79,023 shares during the period. Tyers Asset Management LLC raised its stake in shares of Graco by 2.7% in the first quarter. Tyers Asset Management LLC now owns 5,348 shares of the industrial products company’s stock valued at $503,000 after buying an additional 140 shares during the period. Finally, State Treasurer State of Michigan raised its stake in shares of Graco by 1.8% in the first quarter. State Treasurer State of Michigan now owns 22,800 shares of the industrial products company’s stock valued at $2,146,000 after buying an additional 400 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Graco Inc. (NYSE GGG) opened at 113.66 on Thursday. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 72.12 and a beta of 1.25. The company has a 50-day moving average of $111.77 and a 200-day moving average of $104.07. Graco Inc. has a one year low of $69.33 and a one year high of $116.75.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The business had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. During the same quarter in the prior year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts forecast that Graco Inc. will post $4.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, July 13th. Graco’s payout ratio is 92.90%.

COPYRIGHT VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/08/31/graco-inc-ggg-stake-decreased-by-neuberger-berman-group-llc.html.

GGG has been the subject of several research analyst reports. BidaskClub upgraded shares of Graco from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a report on Monday, July 31st. Deutsche Bank AG reiterated a “hold” rating and set a $110.00 target price (up from $105.00) on shares of Graco in a report on Monday, June 5th. Royal Bank Of Canada reiterated a “hold” rating and set a $104.00 target price on shares of Graco in a report on Monday, June 5th. Finally, Wolfe Research reiterated a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $106.20.

In other news, VP Jeffrey P. Johnson sold 28,000 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $113.00, for a total value of $3,164,000.00. Following the completion of the transaction, the vice president now owns 42,213 shares in the company, valued at approximately $4,770,069. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric Etchart sold 793 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $113.90, for a total transaction of $90,322.70. Following the completion of the transaction, the director now owns 11,224 shares of the company’s stock, valued at approximately $1,278,413.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,021 shares of company stock valued at $6,476,784. Company insiders own 5.70% of the company’s stock.

About Graco

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.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

Receive News & Stock 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 stocks with our FREE daily email newsletter.