Graco Inc. (GGG) Shares Bought by Acrospire Investment Management LLC
Acrospire Investment Management LLC raised its stake in Graco Inc. (NYSE:GGG) by 200.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,200 shares of the industrial products company’s stock after purchasing an additional 800 shares during the quarter. Acrospire Investment Management LLC’s holdings in Graco were worth $131,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings 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 valued at $123,000 after purchasing an additional 578 shares during the last quarter. Fiduciary Trust Co. acquired a new position in shares of Graco in the 2nd quarter valued at $180,000. Mosaic Family Wealth LLC boosted its holdings 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 valued at $205,000 after purchasing an additional 91 shares during the last quarter. HM Payson & Co. acquired a new position in shares of Graco in the 2nd quarter valued at $207,000. Finally, TLP Group LLC acquired a new position in shares of Graco in the 1st quarter valued at $193,000. Institutional investors own 86.82% of the company’s stock.
In other Graco news, 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 directly owns 42,047 shares of the company’s stock, valued at $5,046,060.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,407,830.00. Following the completion of the sale, the vice president now directly owns 27,264 shares of the company’s stock, valued at $3,135,360. The disclosure for this sale can be found here. Insiders sold 67,499 shares of company stock valued at $7,663,509 over the last three months. Insiders own 5.70% of the company’s stock.
A number of brokerages have weighed in on GGG. BidaskClub lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wolfe Research restated a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Zacks Investment Research lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada restated a “hold” rating on shares of Graco in a report on Friday, July 28th. Finally, FBR & Co restated a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $106.20.
Graco Inc. (NYSE GGG) traded up 0.30% during trading on Tuesday, hitting $121.00. 48,282 shares of the company traded hands. Graco Inc. has a one year low of $69.33 and a one year high of $122.18. The firm has a 50 day moving average of $114.90 and a 200 day moving average of $106.94. The firm has a market cap of $6.78 billion, a P/E ratio of 76.78 and a beta of 1.24.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The company had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, analysts expect that Graco Inc. will post $4.53 earnings per share for the current fiscal year.
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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