Graco Inc. (GGG) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System increased its stake in Graco Inc. (NYSE:GGG) by 10.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 158,000 shares of the industrial products company’s stock after buying an additional 15,400 shares during the quarter. California Public Employees Retirement System owned 0.28% of Graco worth $17,266,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its holdings in Graco by 106.1% during the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after buying an additional 578 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Graco by 200.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 800 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Graco during the 2nd quarter worth approximately $180,000. Mosaic Family Wealth LLC increased its stake in shares of Graco by 5.1% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 91 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Graco during the 1st quarter worth approximately $206,000. Institutional investors own 86.82% of the company’s stock.
Graco Inc. (GGG) opened at 123.69 on Monday. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 78.48 and a beta of 1.25. The stock has a 50 day moving average price of $115.07 and a 200-day moving average price of $107.14. Graco Inc. has a 12-month low of $69.33 and a 12-month high of $124.86.
Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The business had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. During the same period in the prior year, the company earned $0.89 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Equities analysts predict that Graco Inc. will post $4.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, October 13th. Graco’s payout ratio is 92.90%.
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GGG has been the subject of several research reports. BidaskClub lowered Graco from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wolfe Research restated a “market perform” rating on shares of Graco in a research note on Tuesday, August 1st. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Royal Bank Of Canada reiterated a “hold” rating on shares of Graco in a research note on Friday, July 28th. Finally, FBR & Co reissued a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $106.20.
In other Graco news, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the completion of the sale, the vice president now owns 27,264 shares of the company’s stock, valued at $3,135,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Etchart sold 757 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $119.20, for a total value of $90,234.40. Following the completion of the sale, the director now owns 12,464 shares of the company’s stock, valued at approximately $1,485,708.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,499 shares of company stock valued at $7,663,509. 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.
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