Conestoga Capital Advisors LLC Cuts Stake in Graco Inc. (GGG)

Conestoga Capital Advisors LLC lowered its position in Graco Inc. (NYSE:GGG) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,053 shares of the industrial products company’s stock after selling 1,195 shares during the period. Conestoga Capital Advisors LLC’s holdings in Graco were worth $2,301,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GGG. BB&T Corp raised its position in Graco by 0.4% in the second quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock worth $280,000 after buying an additional 11 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Graco by 2.6% in the second quarter. Whittier Trust Co. now owns 23,548 shares of the industrial products company’s stock worth $2,573,000 after buying an additional 601 shares in the last quarter. State Treasurer State of Michigan raised its stake in shares of Graco by 0.4% in the second quarter. State Treasurer State of Michigan now owns 22,900 shares of the industrial products company’s stock worth $2,503,000 after buying an additional 100 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of Graco during the second quarter worth $724,000. Finally, Aperio Group LLC raised its stake in shares of Graco by 21.1% in the second quarter. Aperio Group LLC now owns 14,388 shares of the industrial products company’s stock worth $1,572,000 after buying an additional 2,511 shares in the last quarter. 90.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Graco Inc. (NYSE GGG) traded down 0.90% during midday trading on Friday, hitting $112.37. The stock had a trading volume of 162,979 shares. The firm has a 50 day moving average of $111.29 and a 200-day moving average of $103.25. The company has a market cap of $6.29 billion, a P/E ratio of 71.30 and a beta of 1.25. Graco Inc. has a one year low of $69.33 and a one year high of $116.75.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.32. The business had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. On average, analysts forecast that Graco Inc. will post $4.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, July 13th. Graco’s dividend payout ratio (DPR) is presently 92.90%.

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A number of brokerages have weighed in on GGG. BidaskClub raised Graco from a “hold” rating to a “buy” rating in a report on Friday. Wolfe Research reaffirmed a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. 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. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Graco in a report on Friday, July 28th. Finally, FBR & Co reaffirmed a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $106.20.

In other news, Director Eric Etchart sold 793 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were 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 $1,278,413.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey P. Johnson sold 28,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $113.00, for a total transaction of $3,164,000.00. Following the completion of the transaction, 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 119,021 shares of company stock valued at $6,483,384 over the last quarter. Insiders own 5.70% of the company’s stock.

Graco Company Profile

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.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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