BTIM Corp. Cuts Position in Graco Inc. (GGG)

BTIM Corp. lowered its stake in shares of Graco Inc. (NYSE:GGG) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,500 shares of the industrial products company’s stock after selling 125 shares during the period. BTIM Corp.’s holdings in Graco were worth $1,147,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GGG. Retirement Systems of Alabama increased its stake in shares of Graco by 59.9% in the first quarter. Retirement Systems of Alabama now owns 114,949 shares of the industrial products company’s stock valued at $10,821,000 after buying an additional 43,042 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Graco by 126.5% in the first quarter. Conestoga Capital Advisors LLC now owns 22,248 shares of the industrial products company’s stock valued at $2,094,000 after buying an additional 12,425 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Graco by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the industrial products company’s stock valued at $1,327,000 after buying an additional 300 shares in the last quarter. CrestPoint Capital Management LLC acquired a new stake in shares of Graco during the first quarter valued at about $245,000. Finally, Bank of Montreal Can increased its stake in shares of Graco by 6.0% in the first quarter. Bank of Montreal Can now owns 68,005 shares of the industrial products company’s stock valued at $6,403,000 after buying an additional 3,861 shares in the last quarter. 90.10% of the stock is owned by institutional investors and hedge funds.

Graco Inc. (NYSE GGG) traded down 0.90% on Friday, reaching $112.37. The company’s stock had a trading volume of 162,979 shares. The firm has a market cap of $6.29 billion, a PE ratio of 71.30 and a beta of 1.25. Graco Inc. has a 52-week low of $69.33 and a 52-week high of $116.75. The stock’s 50 day moving average price is $111.29 and its 200 day moving average price is $103.25.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.32. The business had revenue of $379.50 million for 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 quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. Equities research analysts expect that Graco Inc. will post $4.53 earnings per share for the current fiscal year.

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

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Several brokerages have issued reports on GGG. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a report on Monday, July 31st. Wolfe Research reissued a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Royal Bank Of Canada reissued a “hold” rating on shares of Graco in a report on Friday, July 28th. BidaskClub raised Graco from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $110.00 price target (up previously from $105.00) on shares of Graco in a research note on Monday, June 5th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Graco presently has an average rating of “Hold” and an average target price of $106.20.

In other Graco news, Director Eric Etchart sold 793 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $113.90, for a total value of $90,322.70. Following the sale, the director now owns 11,224 shares of the company’s stock, valued at approximately $1,278,413.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Peter J. O’shea sold 15,986 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $113.50, for a total value of $1,814,411.00. Following the completion of the sale, the vice president now directly owns 20,638 shares in the company, valued at approximately $2,342,413. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,021 shares of company stock worth $6,483,384. 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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