Public Employees Retirement Association of Colorado cut its stake in Graco Inc. (NYSE:GGG) by 3.4% in the second quarter, Holdings Channel.com reports. The fund owned 359,426 shares of the industrial products company’s stock after selling 12,526 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Graco were worth $18,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan grew its holdings in Graco by 0.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 30,560 shares of the industrial products company’s stock valued at $1,534,000 after purchasing an additional 220 shares in the last quarter. ETF Managers Group LLC grew its holdings in Graco by 8.3% during the 1st quarter. ETF Managers Group LLC now owns 3,158 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 242 shares in the last quarter. Eukles Asset Management grew its holdings in Graco by 1.9% during the 1st quarter. Eukles Asset Management now owns 15,744 shares of the industrial products company’s stock valued at $780,000 after purchasing an additional 287 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Graco by 2.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,869 shares of the industrial products company’s stock valued at $545,000 after purchasing an additional 296 shares in the last quarter. Finally, FMR LLC grew its holdings in Graco by 8.0% during the 4th quarter. FMR LLC now owns 4,898 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 362 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the stock. ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research raised shares of Graco from a “sell” rating to a “hold” rating and set a $49.00 price target for the company in a report on Wednesday, May 29th. Robert W. Baird set a $50.00 price target on shares of Graco and gave the company a “hold” rating in a report on Friday, July 26th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Graco in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $47.50.

GGG stock traded down $1.00 during mid-day trading on Wednesday, hitting $45.41. 6,230 shares of the company were exchanged, compared to its average volume of 556,729. The firm has a market cap of $7.74 billion, a P/E ratio of 24.16, a PEG ratio of 2.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.39. Graco Inc. has a twelve month low of $37.36 and a twelve month high of $53.91. The stock’s fifty day moving average is $49.19.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). The company had revenue of $428.30 million for the quarter, compared to analyst estimates of $444.93 million. Graco had a return on equity of 39.22% and a net margin of 20.61%. Graco’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 earnings per share. On average, equities research analysts expect that Graco Inc. will post 1.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, July 19th. Graco’s dividend payout ratio is currently 34.04%.

In other Graco news, insider Jeffrey P. Johnson sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $48.85, for a total transaction of $732,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.23% of the stock is owned by company insiders.

Graco Company Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

Recommended Story: How does quantitative easing work?

Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG).

Institutional Ownership by Quarter for Graco (NYSE:GGG)

Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.