Graco Inc. (GGG) Position Held by Stonebridge Capital Advisors LLC
Stonebridge Capital Advisors LLC continued to hold its stake in Graco Inc. (NYSE:GGG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,800 shares of the industrial products company’s stock at the close of the second quarter. Stonebridge Capital Advisors LLC’s holdings in Graco were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its holdings in Graco by 11.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,798 shares of the industrial products company’s stock worth $743,000 after purchasing an additional 698 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Graco by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 81,834 shares of the industrial products company’s stock worth $8,943,000 after purchasing an additional 1,017 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Graco in the second quarter worth about $1,167,000. Janus Henderson Group PLC bought a new position in Graco in the second quarter worth about $33,167,000. Finally, Shelton Capital Management bought a new position in Graco in the second quarter worth about $455,000. Institutional investors and hedge funds own 86.82% of the company’s stock.
A number of equities analysts have commented on GGG shares. BidaskClub downgraded shares of Graco from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Wolfe Research upgraded shares of 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. FBR & Co restated a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. Royal Bank Of Canada restated a “hold” rating on shares of Graco in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of 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. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $110.00.
Graco Inc. (NYSE:GGG) traded up 0.89% during trading on Wednesday, hitting $125.03. 52,715 shares of the stock traded hands. The company has a market cap of $7.00 billion, a P/E ratio of 80.66 and a beta of 1.25. The company’s 50 day moving average price is $119.14 and its 200 day moving average price is $110.41. Graco Inc. has a 12 month low of $69.33 and a 12 month high of $125.60.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.32. The firm had revenue of $379.50 million during 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%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, equities research analysts anticipate that Graco Inc. will post $4.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors 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 1.16%. The ex-dividend date of this dividend is Friday, October 13th. Graco’s payout ratio is 92.90%.
In related news, insider David M. Lowe sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the completion of the sale, the insider now owns 164,809 shares in the company, valued at $19,035,439.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Etchart sold 759 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $124.90, for a total value of $94,799.10. Following the sale, the director now owns 11,983 shares of the company’s stock, valued at approximately $1,496,676.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,258 shares of company stock valued at $7,758,309. 5.70% of the stock is owned by company 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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