King Luther Capital Management Corp Trims Holdings in Graco Inc. (GGG)
King Luther Capital Management Corp lowered its position in Graco Inc. (NYSE:GGG) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,030 shares of the industrial products company’s stock after selling 55 shares during the quarter. King Luther Capital Management Corp’s holdings in Graco were worth $1,752,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of Graco by 106.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 578 shares during the period. Fiduciary Trust Co. bought a new stake in shares of Graco in the 2nd quarter worth approximately $180,000. TLP Group LLC bought a new stake in shares of Graco in the 1st quarter worth approximately $193,000. Canada Pension Plan Investment Board lifted its position in shares of Graco by 425.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 1,700 shares during the period. Finally, Mosaic Family Wealth LLC lifted its position in shares of Graco by 5.1% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 91 shares during the period. Institutional investors own 86.82% of the company’s stock.
In related news, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $1,407,830.00. Following the completion of the sale, the vice president now directly owns 27,264 shares in the company, valued at $3,135,360. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP David M. Ahlers sold 22,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $120.01, for a total value of $2,700,225.00. Following the completion of the sale, the vice president now owns 42,047 shares of the company’s stock, valued at $5,046,060.47. The disclosure for this sale can be found here. Insiders sold 67,499 shares of company stock worth $7,663,509 in the last ninety days. 5.70% of the stock is owned by company insiders.
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Graco Inc. (NYSE:GGG) opened at 119.91 on Monday. The company has a market cap of $6.71 billion, a P/E ratio of 76.09 and a beta of 1.24. The company’s 50 day moving average price is $114.70 and its 200 day moving average price is $106.53. Graco Inc. has a 52-week low of $69.33 and a 52-week high of $121.40.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company had revenue of $379.50 million for the quarter, compared to the consensus estimate of $369.36 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Graco Inc. will post $4.53 EPS for the current fiscal year.
A number of analysts have commented on the company. BidaskClub downgraded Graco from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Wolfe Research reiterated a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Zacks Investment Research downgraded Graco from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Royal Bank Of Canada reiterated a “hold” rating on shares of Graco in a research report on Friday, July 28th. Finally, FBR & Co reiterated a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $106.20.
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.
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