Tredje AP fonden Sells 500 Shares of Graco Inc. (NYSE:GGG)

Tredje AP fonden reduced its stake in shares of Graco Inc. (NYSE:GGG) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,672 shares of the industrial products company’s stock after selling 500 shares during the quarter. Tredje AP fonden’s holdings in Graco were worth $2,511,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gradient Investments LLC bought a new position in Graco during the 2nd quarter valued at about $27,000. Rise Advisors LLC bought a new stake in Graco during the 1st quarter worth approximately $38,000. New Covenant Trust Company N.A. acquired a new stake in Graco during the 1st quarter valued at $43,000. Blue Trust Inc. raised its position in Graco by 220.9% in the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 475 shares during the last quarter. Finally, Tobam boosted its stake in Graco by 90.2% in the first quarter. Tobam now owns 601 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 285 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Price Performance

Shares of NYSE:GGG opened at $85.88 on Friday. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 2.76 and a beta of 0.81. The company has a 50 day moving average of $81.85 and a 200-day moving average of $84.02. Graco Inc. has a one year low of $69.78 and a one year high of $94.77.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. Equities research analysts anticipate that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.19%. The ex-dividend date is Monday, October 21st. Graco’s payout ratio is 35.17%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GGG. DA Davidson lowered their target price on Graco from $82.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. StockNews.com downgraded shares of Graco from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Royal Bank of Canada reduced their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Robert W. Baird lowered their price target on shares of Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Graco presently has an average rating of “Hold” and an average price target of $86.80.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.