Whittier Trust Co. Buys 227 Shares of Graco Inc. (GGG)
Whittier Trust Co. increased its position in shares of Graco Inc. (NYSE:GGG) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,906 shares of the company’s stock after buying an additional 227 shares during the period. Whittier Trust Co.’s holdings in Graco were worth $1,730,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Creative Planning raised its position in Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock worth $107,000 after buying an additional 165 shares during the last quarter. Park National Corp OH raised its position in Graco by 0.4% in the second quarter. Park National Corp OH now owns 2,733 shares of the company’s stock worth $216,000 after buying an additional 11 shares during the last quarter. LS Investment Advisors LLC raised its position in Graco by 73.9% in the second quarter. LS Investment Advisors LLC now owns 3,447 shares of the company’s stock worth $272,000 after buying an additional 1,465 shares during the last quarter. Cardinal Capital Management raised its position in Graco by 5.7% in the second quarter. Cardinal Capital Management now owns 5,023 shares of the company’s stock worth $397,000 after buying an additional 270 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in Graco by 2.0% in the second quarter. Capstone Asset Management Co. now owns 5,686 shares of the company’s stock worth $449,000 after buying an additional 110 shares during the last quarter. 90.60% of the stock is owned by institutional investors.
Graco Inc. (NYSE:GGG) traded down 3.87% during mid-day trading on Friday, hitting $72.12. The company had a trading volume of 368,070 shares. Graco Inc. has a 1-year low of $63.05 and a 1-year high of $86.62. The company has a 50 day moving average of $74.06 and a 200 day moving average of $77.94. The firm has a market capitalization of $4.02 billion, a PE ratio of 21.26 and a beta of 1.51.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The firm earned $348.10 million during the quarter, compared to the consensus estimate of $352.49 million. Graco had a return on equity of 30.04% and a net margin of 15.01%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 EPS. Analysts predict that Graco Inc. will post $3.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.83%. The ex-dividend date is Thursday, October 13th. Graco’s payout ratio is currently 38.94%.
A number of research firms have commented on GGG. Zacks Investment Research lowered Graco from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. William Blair lowered Graco from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $89.00 to $78.00 in a research report on Thursday, July 21st. Finally, Deutsche Bank AG began coverage on Graco in a research report on Tuesday, September 6th. They set a “hold” rating and a $83.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $83.75.
In other Graco news, insider Patrick J. Mchale sold 11,500 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $74.19, for a total value of $853,185.00. Following the completion of the sale, the insider now owns 142,230 shares of the company’s stock, valued at $10,552,043.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by company insiders.
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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