Mountain Pacific Investment Advisers LLC Has $12.56 Million Stock Position in Graco Inc. $GGG

Mountain Pacific Investment Advisers LLC lowered its position in Graco Inc. (NYSE:GGG) by 4.3% during the first quarter, HoldingsChannel.com reports. The firm owned 148,326 shares of the industrial products company’s stock after selling 6,705 shares during the quarter. Graco makes up approximately 2.2% of Mountain Pacific Investment Advisers LLC’s holdings, making the stock its 13th largest holding. Mountain Pacific Investment Advisers LLC’s holdings in Graco were worth $12,556,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its stake in shares of Graco by 0.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock worth $1,745,000 after purchasing an additional 109 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in shares of Graco by 0.3% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after buying an additional 119 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Graco by 7.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock valued at $149,000 after buying an additional 125 shares in the last quarter. ICW Investment Advisors LLC grew its stake in shares of Graco by 5.2% in the 2nd quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock valued at $234,000 after buying an additional 135 shares in the last quarter. Finally, Viawealth LLC increased its holdings in Graco by 0.3% in the third quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock worth $4,519,000 after buying an additional 137 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Graco

In other Graco news, Director Andrea Helen Simon bought 1,240 shares of the stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $80.53 per share, with a total value of $99,857.20. Following the acquisition, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.18% of the stock is owned by company insiders.

Graco Price Performance

Graco stock opened at $76.06 on Monday. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 2.45 and a beta of 0.93. Graco Inc. has a fifty-two week low of $73.26 and a fifty-two week high of $95.69. The firm has a fifty day moving average price of $78.61 and a two-hundred day moving average price of $84.06.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.09). The business had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. As a group, sell-side analysts expect that Graco Inc. will post 3.1 earnings per share for the current year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.6%. Graco’s dividend payout ratio is presently 38.44%.

Wall Street Analysts Forecast Growth

GGG has been the topic of several recent research reports. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. DA Davidson reissued a “neutral” rating and issued a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Graco in a research note on Friday, April 24th. Finally, Robert W. Baird dropped their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $94.25.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.