Russell Investments Group Ltd. Reduces Stake in Graco Inc. (GGG)
Russell Investments Group Ltd. trimmed its stake in shares of Graco Inc. (NYSE:GGG) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 640,127 shares of the industrial products company’s stock after selling 10,626 shares during the quarter. Russell Investments Group Ltd. owned about 1.14% of Graco worth $79,175,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in GGG. Advisors Asset Management Inc. increased its position 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 position in Graco by 200.0% during the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock worth $131,000 after buying an additional 800 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in Graco during the second quarter worth about $180,000. Ballentine Partners LLC acquired a new stake in Graco during the third quarter worth about $210,000. Finally, Mosaic Family Wealth LLC grew its position in Graco by 5.1% during the second quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock worth $205,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 86.40% of the company’s stock.
In related news, Director Eric Etchart sold 757 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $119.20, for a total value of $90,234.40. Following the completion of the transaction, the director now owns 12,464 shares in the company, valued at approximately $1,485,708.80. The transaction 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 stock was sold at an average price of $120.01, for a total transaction of $2,700,225.00. Following the completion of the transaction, 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. Insiders sold a total of 718,116 shares of company stock valued at $17,588,337 in the last 90 days. 5.70% of the stock is currently owned by corporate insiders.
Graco Inc. (GGG) traded up $1.36 during midday trading on Friday, reaching $129.67. The company’s stock had a trading volume of 297,500 shares, compared to its average volume of 280,360. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7,202.04, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. Graco Inc. has a 12 month low of $80.20 and a 12 month high of $134.11.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.09. Graco had a return on equity of 42.05% and a net margin of 7.72%. The company had revenue of $379.81 million for the quarter, compared to the consensus estimate of $356.30 million. During the same period in the previous year, the business earned $0.95 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. equities analysts expect that Graco Inc. will post 4.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Monday, October 16th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, October 13th. Graco’s dividend payout ratio (DPR) is presently 75.79%.
A number of equities research analysts recently weighed in on GGG shares. FBR & Co set a $140.00 target price on Graco and gave the stock a “hold” rating in a research report on Thursday, October 26th. SunTrust Banks, Inc. reissued a “hold” rating and set a $128.00 target price on shares of Graco in a research report on Friday, October 27th. Wolfe Research raised Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 target price on the stock in a research report on Monday, July 31st. Zacks Investment Research downgraded Graco from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Graco in a research report on Friday, July 28th. Eleven analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of $116.75.
Graco Company Profile
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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