Graco Inc. (GGG) Shares Sold by M&T Bank Corp
M&T Bank Corp lessened its position in Graco Inc. (NYSE:GGG) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,583 shares of the industrial products company’s stock after selling 106 shares during the quarter. M&T Bank Corp’s holdings in Graco were worth $2,031,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GGG. Canada Pension Plan Investment Board increased its stake in Graco by 425.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 1,700 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in Graco during the first quarter valued at about $239,000. World Asset Management Inc boosted its position in Graco by 16.4% during the first quarter. World Asset Management Inc now owns 3,945 shares of the industrial products company’s stock valued at $371,000 after buying an additional 555 shares during the period. UBS Asset Management Americas Inc. boosted its position in Graco by 20.7% during the first quarter. UBS Asset Management Americas Inc. now owns 57,561 shares of the industrial products company’s stock valued at $5,419,000 after buying an additional 9,862 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in Graco during the first quarter valued at about $1,118,000. 86.82% of the stock is currently owned by institutional investors and hedge funds.
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Several research firms have issued reports on GGG. Wolfe Research restated a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research report on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating on shares of Graco in a research report on Friday, July 28th. BidaskClub upgraded shares of Graco from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Deutsche Bank AG restated a “hold” rating and set a $110.00 price target (up from $105.00) on shares of Graco in a research report on Monday, June 5th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $106.20.
Shares of Graco Inc. (GGG) opened at 123.11 on Thursday. Graco Inc. has a 52-week low of $69.33 and a 52-week high of $123.36. The firm’s 50-day moving average is $115.07 and its 200 day moving average is $107.14. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 78.12 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The firm had revenue of $379.50 million for the quarter, compared to the consensus estimate of $369.36 million. During the same period in the previous year, the firm posted $0.89 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts expect that Graco Inc. will post $4.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be issued a $0.36 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. Graco’s dividend payout ratio (DPR) is presently 92.90%.
In other news, VP David M. Ahlers sold 22,500 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 42,047 shares in the company, valued at approximately $5,046,060.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David M. Lowe sold 30,000 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the completion of the sale, the insider now owns 164,809 shares in the company, valued at $19,035,439.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,499 shares of company stock worth $7,663,509. Insiders own 5.70% of the company’s stock.
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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