Prudential Financial Inc. Decreases Holdings in Graco Inc. (NYSE:GGG)

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Prudential Financial Inc. cut its stake in shares of Graco Inc. (NYSE:GGG) by 23.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 104,794 shares of the industrial products company’s stock after selling 32,950 shares during the period. Prudential Financial Inc. owned about 0.06% of Graco worth $5,259,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan raised its stake in Graco by 0.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 30,560 shares of the industrial products company’s stock valued at $1,534,000 after buying an additional 220 shares during the last quarter. ETF Managers Group LLC raised its stake in Graco by 8.3% during the 1st quarter. ETF Managers Group LLC now owns 3,158 shares of the industrial products company’s stock valued at $156,000 after buying an additional 242 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Graco by 2.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,869 shares of the industrial products company’s stock worth $545,000 after purchasing an additional 296 shares in the last quarter. Stephens Inc. AR increased its stake in shares of Graco by 5.0% in the 2nd quarter. Stephens Inc. AR now owns 6,440 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 307 shares in the last quarter. Finally, Wedbush Securities Inc. increased its stake in shares of Graco by 3.5% in the 2nd quarter. Wedbush Securities Inc. now owns 9,578 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds own 84.24% of the company’s stock.

Several equities research analysts have recently commented on GGG shares. ValuEngine lowered Graco from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Robert W. Baird set a $50.00 price objective on Graco and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating and set a $49.00 price objective for the company in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.20.

Graco stock traded up $0.23 during mid-day trading on Friday, hitting $47.13. The stock had a trading volume of 2,603 shares, compared to its average volume of 358,362. The firm has a market capitalization of $7.71 billion, a P/E ratio of 25.06, a P/E/G ratio of 2.10 and a beta of 0.98. The company has a current ratio of 2.22, a quick ratio of 1.39 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $46.24 and its 200 day moving average is $48.92. Graco Inc. has a one year low of $37.36 and a one year high of $53.91.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). The firm had revenue of $428.30 million during the quarter, compared to the consensus estimate of $444.93 million. Graco had a return on equity of 39.22% and a net margin of 20.61%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. As a group, equities research analysts forecast that Graco Inc. will post 1.91 earnings per share for the current year.

Graco Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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