American Century Companies Inc. trimmed its position in Graco Inc. (NYSE:GGG) by 10.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,620 shares of the industrial products company’s stock after selling 27,620 shares during the quarter. American Century Companies Inc. owned 0.42% of Graco worth $25,749,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of GGG. Teachers Advisors LLC raised its stake in shares of Graco by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 58,189 shares of the industrial products company’s stock valued at $4,835,000 after purchasing an additional 2,950 shares in the last quarter. Creative Planning raised its stake in shares of Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 76 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Graco by 0.9% in the first quarter. Nationwide Fund Advisors now owns 93,502 shares of the industrial products company’s stock valued at $8,802,000 after purchasing an additional 802 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Graco by 0.5% in the first quarter. Profund Advisors LLC now owns 7,738 shares of the industrial products company’s stock valued at $728,000 after purchasing an additional 37 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Graco by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,173 shares of the industrial products company’s stock valued at $1,899,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 86.85% of the company’s stock.
Shares of Graco Inc. (NYSE GGG) traded up 1.20% during mid-day trading on Friday, hitting $119.91. The stock had a trading volume of 575,553 shares. The firm has a market cap of $6.71 billion, a PE ratio of 76.09 and a beta of 1.24. Graco Inc. has a 52 week low of $69.33 and a 52 week high of $121.40. The stock has a 50 day moving average price of $114.70 and a 200 day moving average price of $106.53.
Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.32. The company had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. Graco’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 EPS. Equities research analysts expect that Graco Inc. will post $4.53 EPS for the current fiscal year.
A number of research analysts recently commented on GGG shares. Wolfe Research started coverage on Graco in a research note on Tuesday, July 11th. They issued an “underperform” rating and a $100.00 target price for the company. FBR & Co restated a “marketperform” rating on shares of Graco in a research note on Tuesday, July 11th. BidaskClub cut Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Deutsche Bank AG reiterated a “hold” rating and issued a $110.00 price target (up from $105.00) on shares of Graco in a research report on Monday, June 5th. Finally, Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Graco presently has a consensus rating of “Hold” and a consensus target price of $106.20.
In related news, Director Eric Etchart sold 757 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $119.20, for a total transaction of $90,234.40. Following the sale, the director now owns 12,464 shares in the company, valued at approximately $1,485,708.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $1,407,830.00. Following the sale, 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 have sold a total of 67,499 shares of company stock worth $7,663,509 in the last 90 days. 5.70% of the stock is currently owned by corporate insiders.
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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