BB&T Securities LLC Sells 1,629 Shares of Graco Inc. (GGG)
BB&T Securities LLC lessened its position in Graco Inc. (NYSE:GGG) by 23.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,301 shares of the industrial products company’s stock after selling 1,629 shares during the quarter. BB&T Securities LLC’s holdings in Graco were worth $655,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Prudential Financial Inc. raised its position in Graco by 19.0% in the 2nd quarter. Prudential Financial Inc. now owns 327,738 shares of the industrial products company’s stock valued at $35,816,000 after buying an additional 52,346 shares during the last quarter. Cardinal Capital Management raised its position in Graco by 6.8% in the 3rd quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock valued at $942,000 after buying an additional 488 shares during the last quarter. JPMorgan Chase & Co. raised its position in Graco by 8.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 305,782 shares of the industrial products company’s stock valued at $33,416,000 after buying an additional 23,718 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Graco in the 2nd quarter valued at approximately $1,093,000. Finally, Fiera Capital Corp raised its position in Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after buying an additional 206,130 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.
Graco Inc. (GGG) opened at $130.08 on Friday. The firm has a market capitalization of $7,301.39, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23. Graco Inc. has a 1 year low of $82.39 and a 1 year high of $134.11. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.46 and a current ratio of 2.23.
Graco shares are set to split before the market opens on Thursday, December 28th. The 3-1 split was announced on Friday, December 8th. The newly created shares will be payable to shareholders after the closing bell on Wednesday, December 27th.
Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. The firm had revenue of $379.81 million for the quarter, compared to analyst estimates of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 EPS. sell-side analysts forecast that Graco Inc. will post 4.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Monday, January 22nd will be given a dividend of $0.3975 per share. This is a positive change from Graco’s previous quarterly dividend of $0.36. This represents a $1.59 annualized dividend and a dividend yield of 1.22%. Graco’s payout ratio is 75.79%.
In other news, VP Caroline M. Chambers sold 10,000 shares of Graco stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $131.56, for a total transaction of $1,315,600.00. Following the completion of the transaction, the vice president now directly owns 15,191 shares in the company, valued at approximately $1,998,527.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Etchart sold 757 shares of Graco stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $119.20, for a total value of $90,234.40. Following the transaction, the director now owns 12,464 shares of the company’s stock, valued at $1,485,708.80. The disclosure for this sale can be found here. Insiders have sold a total of 704,018 shares of company stock worth $16,207,731 in the last ninety days. Insiders own 5.70% of the company’s stock.
A number of brokerages recently issued reports on GGG. SunTrust Banks reissued a “hold” rating and issued a $128.00 target price on shares of Graco in a research report on Friday, October 27th. Robert W. Baird reissued a “hold” rating and issued a $135.00 target price on shares of Graco in a research report on Friday, October 27th. Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. B. Riley reaffirmed a “neutral” rating on shares of Graco in a research report on Wednesday, November 1st. Finally, ValuEngine lowered Graco from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Twelve research analysts have rated the stock with a hold rating, Graco presently has a consensus rating of “Hold” and an average price target of $116.75.
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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.
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