Graco Inc. (NYSE:GGG) Position Decreased by Mondrian Investment Partners LTD
Mondrian Investment Partners LTD cut its stake in shares of Graco Inc. (NYSE:GGG) by 22.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,362 shares of the industrial products company’s stock after selling 6,899 shares during the period. Mondrian Investment Partners LTD’s holdings in Graco were worth $2,662,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in Graco by 13,639.9% in the first quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock valued at $411,455,000 after buying an additional 4,338,864 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Graco by 168.2% in the first quarter. Parametric Portfolio Associates LLC now owns 649,333 shares of the industrial products company’s stock valued at $61,128,000 after buying an additional 407,245 shares in the last quarter. Vanguard Group Inc. boosted its stake in Graco by 6.8% in the first quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock valued at $460,049,000 after buying an additional 309,685 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Graco by 36.5% in the first quarter. Bank of New York Mellon Corp now owns 940,408 shares of the industrial products company’s stock valued at $88,531,000 after buying an additional 251,447 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Graco by 59.8% in the first quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock valued at $61,463,000 after buying an additional 244,321 shares in the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.
Graco Inc. (NYSE GGG) opened at 112.66 on Friday. The company has a 50-day moving average price of $110.78 and a 200 day moving average price of $102.35. Graco Inc. has a 1-year low of $69.33 and a 1-year high of $116.75. The stock has a market capitalization of $6.31 billion, a P/E ratio of 71.48 and a beta of 1.25.
Graco (NYSE:GGG) last released its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.32. The firm had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, equities analysts predict that Graco Inc. will post $4.52 EPS for the current year.
The company also recently announced 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 dividend on an annualized basis and a yield of 1.28%. Graco’s dividend payout ratio (DPR) is 92.90%.
Several analysts have recently commented on GGG shares. TheStreet raised Graco from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Wolfe Research started coverage on Graco in a report on Tuesday, July 11th. They issued an “underperform” rating and a $100.00 price target for the company. FBR & Co reissued a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. BidaskClub cut Graco from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $104.00 price target on shares of Graco in a report on Friday, April 28th. Five 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 an average price target of $106.20.
In other Graco news, VP Karen Park Gallivan sold 12,242 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 27,264 shares in the company, valued at $3,135,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey P. Johnson sold 28,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 42,213 shares of the company’s stock, valued at $4,770,069. The disclosure for this sale can be found here. Insiders sold 129,021 shares of company stock valued at $6,484,484 over the last 90 days. 5.70% of the stock is currently owned by insiders.
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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