Retirement Systems of Alabama cut its stake in shares of Graco Inc. (NYSE:GGG) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,263 shares of the industrial products company’s stock after selling 686 shares during the period. Retirement Systems of Alabama’s holdings in Graco were worth $12,487,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in GGG. BB&T Corp increased its stake in Graco by 0.4% in the second quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock valued at $280,000 after buying an additional 11 shares during the last quarter. Somerset Trust Co increased its stake in Graco by 0.4% in the second quarter. Somerset Trust Co now owns 5,093 shares of the industrial products company’s stock valued at $557,000 after buying an additional 21 shares during the last quarter. Profund Advisors LLC increased its stake in 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 buying an additional 37 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Graco by 0.6% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 9,651 shares of the industrial products company’s stock valued at $909,000 after buying an additional 54 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock valued at $168,000 after buying an additional 62 shares during the last quarter. 90.30% of the stock is owned by institutional investors.

Shares of Graco Inc. (GGG) opened at 114.26 on Thursday. The company has a market cap of $6.40 billion, a PE ratio of 72.50 and a beta of 1.25. The company has a 50-day moving average price of $110.68 and a 200-day moving average price of $102.09. Graco Inc. has a 1-year low of $69.33 and a 1-year high of $116.75.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The company had revenue of $379.50 million for 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 quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Equities research analysts expect that Graco Inc. will post $4.52 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were given a $0.36 dividend. The ex-dividend date was Thursday, July 13th. This represents a $1.44 annualized dividend and a yield of 1.26%. Graco’s dividend payout ratio is currently 92.90%.

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Several equities research analysts have recently commented on the company. Wolfe Research reissued a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. BidaskClub downgraded Graco from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Zacks Investment Research downgraded Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada reissued a “hold” rating and issued a $104.00 price objective on shares of Graco in a report on Friday, April 28th. Finally, FBR & Co reissued a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $106.20.

In other Graco news, VP Jeffrey P. Johnson sold 28,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $113.00, for a total value of $3,164,000.00. Following the transaction, the vice president now owns 42,213 shares of the company’s stock, valued at $4,770,069. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Etchart sold 793 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $113.90, for a total value of $90,322.70. Following the completion of the transaction, the director now directly owns 11,224 shares in the company, valued at approximately $1,278,413.60. The disclosure for this sale can be found here. In the last three months, insiders sold 129,021 shares of company stock worth $6,484,484. Insiders own 5.70% of the company’s stock.

About Graco

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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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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