FMR LLC decreased its position in Graco Inc. (NYSE:GGG) by 99.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,481 shares of the industrial products company’s stock after selling 625,475 shares during the period. FMR LLC’s holdings in Graco were worth $203,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of GGG. BlackRock Inc. increased its stake in Graco by 2.0% in the 2nd quarter. BlackRock Inc. now owns 14,712,692 shares of the industrial products company’s stock valued at $665,308,000 after buying an additional 289,609 shares during the period. Fiera Capital Corp increased its stake in Graco by 4.7% in the 2nd quarter. Fiera Capital Corp now owns 9,937,963 shares of the industrial products company’s stock valued at $449,394,000 after buying an additional 447,854 shares during the period. Dimensional Fund Advisors LP increased its stake in Graco by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 984,414 shares of the industrial products company’s stock valued at $44,515,000 after buying an additional 4,755 shares during the period. Principal Financial Group Inc. increased its stake in Graco by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 748,219 shares of the industrial products company’s stock valued at $34,208,000 after buying an additional 27,359 shares during the period. Finally, First Quadrant L P CA increased its stake in Graco by 6.0% in the 2nd quarter. First Quadrant L P CA now owns 594,309 shares of the industrial products company’s stock valued at $26,875,000 after buying an additional 33,900 shares during the period. 85.55% of the stock is owned by institutional investors.
NYSE:GGG traded down $0.56 during midday trading on Friday, reaching $43.15. The stock had a trading volume of 705,733 shares, compared to its average volume of 1,272,375. Graco Inc. has a 1-year low of $37.36 and a 1-year high of $49.69. The company has a current ratio of 2.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $7.23 billion, a PE ratio of 30.17, a PEG ratio of 2.88 and a beta of 1.17.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. Graco had a net margin of 18.73% and a return on equity of 42.19%. The business had revenue of $415.94 million for the quarter, compared to analyst estimates of $403.62 million. As a group, analysts anticipate that Graco Inc. will post 1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 7th. Investors of record on Monday, October 22nd were paid a $0.1325 dividend. The ex-dividend date was Friday, October 19th. This represents a $0.53 dividend on an annualized basis and a yield of 1.23%. Graco’s payout ratio is presently 37.06%.
In other Graco news, Director Jack W. Eugster sold 32,297 shares of the stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $46.66, for a total value of $1,506,978.02. Following the completion of the sale, the director now directly owns 103,251 shares of the company’s stock, valued at approximately $4,817,691.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Caroline M. Chambers sold 97,500 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $47.10, for a total transaction of $4,592,250.00. Following the completion of the sale, the insider now directly owns 119,092 shares of the company’s stock, valued at $5,609,233.20. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
Several research firms have weighed in on GGG. Oppenheimer reiterated a “hold” rating on shares of Graco in a research note on Monday, October 29th. SunTrust Banks reiterated a “hold” rating and issued a $45.00 price objective on shares of Graco in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Friday, October 26th. ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, DA Davidson set a $49.00 price target on shares of Graco and gave the stock a “hold” rating in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Graco currently has an average rating of “Hold” and a consensus price target of $48.67.
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Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.
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