Atlanta Capital Management Co. L L C reduced its holdings in shares of Graco Inc. (NYSE:GGG) by 34.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,604,049 shares of the industrial products company’s stock after selling 853,162 shares during the period. Atlanta Capital Management Co. L L C owned approximately 2.86% of Graco worth $175,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Graco by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock valued at $545,481,000 after buying an additional 104,725 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Graco by 1.0% in the second quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock valued at $482,397,000 after purchasing an additional 43,669 shares during the period. Fiera Capital Corp increased its holdings in shares of Graco by 7.3% in the second quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after purchasing an additional 206,130 shares during the period. State Street Corp increased its holdings in shares of Graco by 3.2% in the first quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock valued at $137,974,000 after purchasing an additional 45,636 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Graco by 59.8% in the first quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock valued at $61,463,000 after purchasing an additional 244,321 shares during the period. 86.81% of the stock is currently owned by institutional investors.
Shares of Graco Inc. (NYSE GGG) traded up 1.31% during trading on Wednesday, reaching $126.86. The company’s stock had a trading volume of 89,995 shares. Graco Inc. has a 52 week low of $71.14 and a 52 week high of $127.04. The firm has a market capitalization of $7.10 billion, a P/E ratio of 80.49 and a beta of 1.25. The company has a 50 day moving average price of $120.37 and a 200 day moving average price of $111.10.
Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.06 by $0.32. The firm had revenue of $379.50 million for the quarter, compared to the consensus estimate of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. On average, equities research analysts expect that Graco Inc. will post $4.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 16th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.44 annualized dividend and a yield of 1.15%. Graco’s dividend payout ratio (DPR) is presently 92.90%.
A number of research analysts have recently weighed in on the company. Robert W. Baird reissued a “hold” rating and issued a $129.00 price objective on shares of Graco in a report on Wednesday, October 4th. BidaskClub lowered Graco from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Wolfe Research reissued a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Graco in a report on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Graco presently has an average rating of “Hold” and a consensus target price of $110.00.
In other news, insider David M. Lowe sold 30,000 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the transaction, the insider now owns 164,809 shares in the company, valued at approximately $19,035,439.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the transaction, the vice president now owns 27,264 shares in the company, valued at approximately $3,135,360. The disclosure for this sale can be found here. Insiders sold a total of 66,258 shares of company stock worth $7,758,089 in the last quarter. Insiders own 5.70% of the company’s stock.
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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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