Los Angeles Capital Management & Equity Research Inc. Lowers Position in Graco Inc. (GGG)
Los Angeles Capital Management & Equity Research Inc. reduced its position in Graco Inc. (NYSE:GGG) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 339,518 shares of the industrial products company’s stock after selling 2,480 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.60% of Graco worth $41,995,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in 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 acquiring an additional 578 shares during the period. Acrospire Investment Management LLC grew its holdings in Graco by 200.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after buying an additional 800 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Graco during the 2nd quarter valued at about $180,000. Mosaic Family Wealth LLC grew its holdings in Graco by 5.1% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock valued at $205,000 after buying an additional 91 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in Graco during the 1st quarter valued at about $206,000. Institutional investors and hedge funds own 86.40% of the company’s stock.
In other Graco news, insider David M. Lowe sold 30,000 shares of the business’s stock in a transaction that occurred on 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 $19,035,439.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 approximately $5,046,060.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 718,116 shares of company stock valued at $17,588,337. 5.70% of the stock is owned by insiders.
A number of research analysts have weighed in on GGG shares. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a report on Monday, July 31st. Wolfe Research raised Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 target price for the company in a report on Monday, July 31st. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $128.00 target price on shares of Graco in a report on Friday, October 27th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Graco in a report on Friday, July 28th. Finally, FBR & Co set a $140.00 price objective on Graco and gave the stock a “hold” rating in a report on Thursday, October 26th. Eleven investment analysts have rated the stock with a hold rating, Graco has a consensus rating of “Hold” and an average target price of $116.75.
Shares of Graco Inc. (NYSE GGG) traded down $1.35 on Tuesday, reaching $128.82. The company’s stock had a trading volume of 296,800 shares, compared to its average volume of 281,297. The stock has a market capitalization of $7,306.44, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.46 and a current ratio of 2.23. Graco Inc. has a 1-year low of $79.83 and a 1-year high of $134.11.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. The business had revenue of $379.81 million during the quarter, compared to analyst estimates of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. Graco’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. equities research analysts anticipate that Graco Inc. will post 4.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, October 13th. Graco’s dividend payout ratio is currently 75.79%.
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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