Advisor Group Inc. Sells 1,114 Shares of Graco Inc. (GGG)
Advisor Group Inc. decreased its holdings in Graco Inc. (NYSE:GGG) by 25.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,199 shares of the industrial products company’s stock after selling 1,114 shares during the quarter. Advisor Group Inc.’s holdings in Graco were worth $349,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BB&T Corp lifted its position in Graco by 0.4% in the 2nd quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock valued at $280,000 after acquiring an additional 11 shares in the last quarter. Somerset Trust Co lifted its position in Graco by 0.4% in the 2nd quarter. Somerset Trust Co now owns 5,093 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 21 shares in the last quarter. BB&T Securities LLC lifted its position in Graco by 0.5% in the 2nd quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock valued at $757,000 after acquiring an additional 36 shares in the last quarter. Commerce Bank lifted its position in Graco by 1.5% in the 2nd quarter. Commerce Bank now owns 4,038 shares of the industrial products company’s stock valued at $441,000 after acquiring an additional 60 shares in the last quarter. Finally, WCM Investment Management CA lifted its position in Graco by 2.1% in the 2nd quarter. WCM Investment Management CA now owns 3,695 shares of the industrial products company’s stock valued at $404,000 after acquiring an additional 75 shares in the last quarter. 86.82% of the stock is currently owned by institutional investors and hedge funds.
Graco Inc. (NYSE GGG) opened at 124.31 on Thursday. The company has a market capitalization of $6.96 billion, a P/E ratio of 78.88 and a beta of 1.25. The firm has a 50-day moving average of $119.43 and a 200 day moving average of $110.51. Graco Inc. has a one year low of $69.33 and a one year high of $125.60.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating 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 company had revenue of $379.50 million during the quarter, compared to analyst estimates of $369.36 million. During the same quarter last year, the business posted $0.89 EPS. The firm’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 $4.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 16th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, October 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.16%. Graco’s payout ratio is 92.90%.
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In other Graco news, Director Eric Etchart sold 757 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $119.20, for a total transaction of $90,234.40. Following the transaction, the director now owns 12,464 shares of the company’s stock, valued at approximately $1,485,708.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the transaction, the vice president now directly owns 27,264 shares in the company, valued at approximately $3,135,360. The disclosure for this sale can be found here. Insiders have sold a total of 66,258 shares of company stock valued at $7,758,089 in the last quarter. 5.70% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on GGG. Robert W. Baird reaffirmed a “hold” rating and issued a $129.00 price target on shares of Graco in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research note on Monday, July 31st. Wolfe Research reiterated a “market perform” rating on shares of Graco in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “hold” rating on shares of Graco in a research note on Friday, July 28th. Finally, BidaskClub upgraded shares of Graco from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $110.00.
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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