Mutual of America Capital Management LLC Has $4.94 Million Stake in Graco Inc. (GGG)
Mutual of America Capital Management LLC lifted its stake in shares of Graco Inc. (NYSE:GGG) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,187 shares of the industrial products company’s stock after purchasing an additional 1,271 shares during the quarter. Mutual of America Capital Management LLC owned about 0.08% of Graco worth $4,938,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its holdings in Graco by 106.1% during the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 578 shares during the period. Acrospire Investment Management LLC grew its holdings in Graco by 200.0% during the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 800 shares during the period. Fiduciary Trust Co. acquired a new position in Graco during the second quarter worth $180,000. Mosaic Family Wealth LLC grew its holdings in Graco by 5.1% during the second quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 91 shares during the period. Finally, HM Payson & Co. acquired a new position in Graco during the second quarter worth $207,000. Institutional investors and hedge funds own 86.82% of the company’s stock.
GGG has been the topic of a number of recent analyst reports. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a report on Monday, July 31st. Wolfe Research raised Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 price objective on the stock in a report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Graco in a report on Friday, July 28th. FBR & Co reaffirmed a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. Finally, BidaskClub lowered Graco from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $106.20.
In other news, Director Eric Etchart sold 757 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $119.20, for a total value of $90,234.40. Following the sale, the director now owns 12,464 shares of the company’s stock, valued at approximately $1,485,708.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction 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 approximately $3,135,360. The disclosure for this sale can be found here. Insiders have sold a total of 67,499 shares of company stock worth $7,663,509 in the last ninety days. 5.70% of the stock is owned by company insiders.
Shares of Graco Inc. (GGG) opened at 122.40 on Friday. The firm has a 50-day moving average price of $115.07 and a 200 day moving average price of $107.14. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 77.66 and a beta of 1.24. Graco Inc. has a 12-month low of $69.33 and a 12-month high of $122.86.
Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.32. The firm had revenue of $379.50 million for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. On average, equities research analysts anticipate that Graco Inc. will post $4.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.18%. Graco’s payout ratio is currently 92.90%.
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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. 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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