Baird Financial Group Inc. trimmed its position in Graco Inc. (NYSE:GGG) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 982,889 shares of the industrial products company’s stock after selling 12,917 shares during the period. Baird Financial Group Inc.’s holdings in Graco were worth $44,446,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GGG. Alps Advisors Inc. bought a new position in Graco in the 1st quarter valued at $474,000. SG Americas Securities LLC boosted its position in Graco by 93.0% in the 1st quarter. SG Americas Securities LLC now owns 64,567 shares of the industrial products company’s stock valued at $2,952,000 after buying an additional 31,108 shares during the last quarter. Trexquant Investment LP bought a new position in Graco in the 1st quarter valued at $884,000. American Century Companies Inc. boosted its position in Graco by 39.5% in the 1st quarter. American Century Companies Inc. now owns 1,160,462 shares of the industrial products company’s stock valued at $53,056,000 after buying an additional 328,334 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in Graco in the 1st quarter valued at $2,859,000. Hedge funds and other institutional investors own 85.69% of the company’s stock.

NYSE:GGG opened at $46.90 on Wednesday. Graco Inc. has a 12-month low of $37.63 and a 12-month high of $49.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 2.65. The firm has a market capitalization of $7.86 billion, a PE ratio of 32.87, a P/E/G ratio of 2.95 and a beta of 1.10.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). Graco had a return on equity of 40.67% and a net margin of 18.07%. The company had revenue of $424.60 million during the quarter, compared to the consensus estimate of $421.19 million. During the same quarter in the prior year, the business earned $1.38 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. analysts forecast that Graco Inc. will post 1.84 EPS for the current fiscal year.

A number of research analysts have commented on GGG shares. Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Oppenheimer restated a “hold” rating on shares of Graco in a research report on Thursday, July 26th. Royal Bank of Canada restated a “hold” rating and issued a $49.00 price target on shares of Graco in a research report on Friday, July 27th. Finally, DA Davidson set a $49.00 price target on Graco and gave the stock a “hold” rating in a research report on Monday, August 20th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $49.17.

In other Graco news, Director Jack W. Eugster sold 32,297 shares of Graco stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $46.66, for a total transaction of $1,506,978.02. Following the transaction, the director now directly owns 103,251 shares in the company, valued at $4,817,691.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Caroline M. Chambers sold 97,500 shares of Graco stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $47.10, for a total value of $4,592,250.00. Following the transaction, the insider now owns 119,092 shares in the company, valued at $5,609,233.20. The disclosure for this sale can be found here. 5.10% of the stock is owned by company insiders.

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. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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