RK Capital Management LLC Has $8.08 Million Holdings in Graco Inc. (GGG)
RK Capital Management LLC lessened its position in shares of Graco Inc. (NYSE:GGG) by 18.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,925 shares of the industrial products company’s stock after selling 16,600 shares during the period. RK Capital Management LLC owned about 0.13% of Graco worth $8,079,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position in shares of Graco by 425.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock worth $198,000 after buying an additional 1,700 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Graco by 5.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 33,036 shares of the industrial products company’s stock worth $3,107,000 after buying an additional 1,560 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Graco by 315.5% during the 1st quarter. First Trust Advisors LP now owns 104,068 shares of the industrial products company’s stock worth $9,797,000 after buying an additional 79,023 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Graco by 36.5% during the 1st quarter. Bank of New York Mellon Corp now owns 940,408 shares of the industrial products company’s stock worth $88,531,000 after buying an additional 251,447 shares during the last quarter. Finally, Suntrust Banks Inc. purchased a new stake in shares of Graco during the 1st quarter worth approximately $239,000. Institutional investors own 86.85% of the company’s stock.
In other Graco news, VP Karen Park Gallivan sold 12,242 shares of Graco stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $1,407,830.00. Following the completion of the transaction, 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 SEC, which is accessible through the SEC website. Also, VP David M. Ahlers sold 22,500 shares of Graco stock in a transaction on Friday, September 15th. The stock was sold at an average price of $120.01, for a total transaction of $2,700,225.00. Following the completion of the transaction, the vice president now directly owns 42,047 shares of the company’s stock, valued at approximately $5,046,060.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,499 shares of company stock valued at $7,663,509. 5.70% of the stock is currently owned by corporate insiders.
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GGG has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Graco in a research report on Tuesday, July 11th. They set an “underperform” rating and a $100.00 price objective for the company. FBR & Co restated a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. BidaskClub downgraded shares of Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Deutsche Bank AG restated a “hold” rating and set a $110.00 price objective (up previously from $105.00) on shares of Graco in a research report on Monday, June 5th. Finally, Zacks Investment Research downgraded shares of Graco from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $106.20.
Shares of Graco Inc. (GGG) traded up 1.20% during mid-day trading on Friday, hitting $119.91. 575,553 shares of the stock traded hands. The stock has a market cap of $6.71 billion, a PE ratio of 76.09 and a beta of 1.24. Graco Inc. has a one year low of $69.33 and a one year high of $121.40. The stock has a 50-day moving average of $114.70 and a 200 day moving average of $106.53.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.32. The business had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. Equities analysts predict that Graco Inc. will post $4.53 EPS for the current fiscal year.
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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