TIAA CREF Investment Management LLC Has $11.93 Million Holdings in Graco Inc. (GGG)
TIAA CREF Investment Management LLC boosted its position in shares of Graco Inc. (NYSE:GGG) by 18.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,197 shares of the industrial products company’s stock after purchasing an additional 17,334 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.20% of Graco worth $11,933,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Graco by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock valued at $460,049,000 after purchasing an additional 309,685 shares during the last quarter. BlackRock Inc. grew its stake in shares of Graco by 13,639.9% in the 1st quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock valued at $411,455,000 after buying an additional 4,338,864 shares during the period. Fiera Capital Corp grew its stake in shares of Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after buying an additional 206,130 shares during the period. State Street Corp grew its stake in shares of Graco by 3.2% in the 1st quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock valued at $137,974,000 after buying an additional 45,636 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Graco by 59.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock valued at $61,463,000 after buying an additional 244,321 shares during the period. 86.82% of the stock is currently owned by institutional investors.
Graco Inc. (NYSE:GGG) opened at 124.35 on Wednesday. Graco Inc. has a 52 week low of $69.33 and a 52 week high of $125.32. The firm’s 50-day moving average is $117.62 and its 200 day moving average is $109.28. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 78.90 and a beta of 1.25.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.32. The business had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, equities research 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. Investors of record on Monday, October 16th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, October 13th. This represents a $1.44 annualized dividend and a yield of 1.16%. Graco’s dividend payout ratio (DPR) is presently 92.90%.
In other Graco news, insider David M. Lowe sold 30,000 shares of Graco stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $115.50, for a total value of $3,465,000.00. Following the completion of the sale, the insider now owns 164,809 shares in the company, valued at approximately $19,035,439.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Etchart sold 759 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $124.90, for a total transaction of $94,799.10. Following the transaction, the director now directly owns 11,983 shares of the company’s stock, valued at approximately $1,496,676.70. The disclosure for this sale can be found here. Insiders have sold 68,258 shares of company stock worth $7,758,309 over the last quarter. 5.70% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub upgraded Graco from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Wolfe Research reiterated a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price 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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