Dimensional Fund Advisors LP lessened its stake in Graco Inc. (NYSE:GGG) by 1.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 368,085 shares of the industrial products company’s stock after selling 6,341 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Graco were worth $45,528,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in GGG. Advisors Asset Management Inc. boosted its position in shares of Graco by 106.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 578 shares in the last quarter. Acrospire Investment Management LLC boosted its position in shares of 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 purchasing an additional 800 shares in the last quarter. Fiduciary Trust Co. bought a new position in shares of Graco during the 2nd quarter valued at about $180,000. Parallax Volatility Advisers L.P. boosted its position in shares of Graco by 127.0% during the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,918 shares of the industrial products company’s stock valued at $210,000 after purchasing an additional 1,073 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Graco during the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors own 28.75% of the company’s stock.
Shares of Graco Inc. (NYSE GGG) opened at $46.21 on Monday. 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 52 week low of $27.78 and a 52 week high of $46.95. The company has a market cap of $7,781.30, a PE ratio of 72.96, a price-to-earnings-growth ratio of 2.80 and a beta of 1.23.
Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Graco had a net margin of 7.72% and a return on equity of 42.05%. The company had revenue of $379.81 million during the quarter, compared to analyst estimates of $356.30 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. equities research analysts predict that Graco Inc. will post 1.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Monday, January 22nd will be given a $0.3975 dividend. This represents a $1.59 dividend on an annualized basis and a dividend yield of 3.44%. This is a positive change from Graco’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, January 19th. Graco’s dividend payout ratio is 75.79%.
GGG has been the subject of several research reports. Royal Bank of Canada restated a “hold” rating and set a $49.00 price objective on shares of Graco in a research report on Thursday. Oppenheimer reaffirmed a “hold” rating on shares of Graco in a research note on Thursday, December 28th. SunTrust Banks reaffirmed a “hold” rating and set a $42.67 price objective on shares of Graco in a research note on Friday, October 27th. Robert W. Baird reaffirmed a “hold” rating and set a $45.00 price objective on shares of Graco in a research note on Friday, October 27th. Finally, FBR & Co set a $46.67 price objective on shares of Graco and gave the company a “hold” rating in a research note on Thursday, October 26th. Thirteen equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $41.67.
In other news, VP Mark W. Sheahan sold 30,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $131.31, for a total value of $3,939,300.00. Following the completion of the sale, the vice president now directly owns 49,538 shares of the company’s stock, valued at $6,504,834.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark D. Eberlein sold 5,902 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $130.26, for a total transaction of $768,794.52. The disclosure for this sale can be found here. Insiders sold 734,752 shares of company stock valued at $18,245,690 over the last three months. 5.70% of the stock is owned by insiders.
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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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