USA Financial Portformulas Corp Takes $473,000 Position in Graco Inc. (GGG)

USA Financial Portformulas Corp bought a new stake in shares of Graco Inc. (NYSE:GGG) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,327 shares of the industrial products company’s stock, valued at approximately $473,000.

Other large investors also recently modified their holdings of the company. Prudential Financial Inc. boosted its stake in shares of Graco by 19.0% during 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 period. BB&T Securities LLC boosted its stake in shares of Graco by 0.5% during the 2nd quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock valued at $757,000 after buying an additional 36 shares during the period. Morgan Stanley boosted its stake in shares of Graco by 12.3% during the 1st quarter. Morgan Stanley now owns 148,597 shares of the industrial products company’s stock valued at $13,989,000 after buying an additional 16,224 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Graco by 2.5% during the 2nd quarter. Capstone Asset Management Co. now owns 5,646 shares of the industrial products company’s stock valued at $617,000 after buying an additional 140 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 23,718 shares during the last quarter. 86.91% of the stock is owned by institutional investors.

In other Graco news, Director Eric Etchart sold 759 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $124.90, for a total transaction of $94,799.10. Following the transaction, the director now directly owns 11,983 shares in the company, valued at $1,496,676.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David M. Lowe sold 30,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the transaction, the insider now owns 164,809 shares in the company, valued at $19,035,439.50. The disclosure for this sale can be found here. Insiders have sold 132,516 shares of company stock worth $6,359,179 over the last quarter. Company insiders own 5.70% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Robert W. Baird reaffirmed a “hold” rating and issued a $135.00 price objective on shares of Graco in a research note on Friday. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $128.00 price objective on shares of Graco in a research note on Friday. FBR & Co set a $140.00 price objective on shares of Graco and gave the company a “hold” rating in a research note on Thursday. KeyCorp reaffirmed a “hold” rating on shares of Graco in a research note on Friday, October 20th. Finally, Wolfe Research reissued a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Graco has a consensus rating of “Hold” and a consensus price target of $116.75.

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Graco Inc. (GGG) traded down 0.47% on Friday, hitting $132.87. 396,100 shares of the stock traded hands. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 84.31 and a beta of 1.25. Graco Inc. has a 52 week low of $73.40 and a 52 week high of $134.11. The firm’s 50 day moving average is $122.84 and its 200 day moving average is $112.90.

Graco (NYSE:GGG) last posted its quarterly earnings data 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. Graco had a net margin of 7.72% and a return on equity of 42.05%. The company had revenue of $379.81 million for the quarter, compared to analysts’ expectations of $356.30 million. During the same period in the prior year, the business earned $0.95 earnings per share. Graco’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities analysts anticipate that Graco Inc. will post $4.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders 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 yield of 1.08%. The ex-dividend date is Friday, October 13th. Graco’s payout ratio is currently 75.79%.

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.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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