Rhumbline Advisers increased its position in shares of Graco Inc. (NYSE:GGG) by 11.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,807 shares of the industrial products company’s stock after acquiring an additional 14,130 shares during the quarter. Rhumbline Advisers owned 0.24% of Graco worth $16,427,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in GGG. Advisors Asset Management Inc. raised its holdings in shares of Graco by 106.1% during the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 578 shares during the period. Acrospire Investment Management LLC increased its stake in Graco by 200.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after buying an additional 800 shares during the period. Fiduciary Trust Co. acquired a new position in Graco in the 2nd quarter valued at approximately $180,000. Mosaic Family Wealth LLC increased its stake in Graco by 5.1% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock valued at $205,000 after buying an additional 91 shares during the period. Finally, Wellington Management Group LLP acquired a new position in Graco in the 1st quarter valued at approximately $206,000. Institutional investors and hedge funds own 86.27% of the company’s stock.
GGG has been the topic of several research reports. BidaskClub upgraded shares of Graco from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Robert W. Baird reiterated a “hold” rating and issued a $129.00 price objective on shares of Graco in a research note on Wednesday, October 4th. KeyCorp reiterated a “hold” rating on shares of Graco in a research note on Friday, October 20th. FBR & Co set a $140.00 price target on shares of Graco and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, SunTrust Banks restated a “hold” rating and set a $128.00 price target on shares of Graco in a research note on Friday, October 27th. Twelve research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $116.75.
In other Graco news, VP David M. Ahlers sold 22,500 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $120.01, for a total value of $2,700,225.00. Following the completion of the sale, the vice president now directly owns 42,047 shares of the company’s stock, valued at approximately $5,046,060.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Caroline M. Chambers sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 15,191 shares of the company’s stock, valued at $1,998,527.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 734,018 shares of company stock valued at $19,672,731. Insiders own 5.70% of the company’s stock.
Graco Inc. (GGG) traded up $0.15 during midday trading on Thursday, hitting $128.77. 218,230 shares of the company traded hands, compared to its average volume of 276,350. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31. The company has a market cap of $7,220.00, a P/E ratio of 27.85, a P/E/G ratio of 2.79 and a beta of 1.23. Graco Inc. has a fifty-two week low of $82.39 and a fifty-two week high of $134.11.
Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) 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 business had revenue of $379.81 million during the quarter, compared to the consensus estimate of $356.30 million. During the same period in the prior year, the firm earned $0.95 EPS. Graco’s quarterly revenue was up 16.1% compared to the same quarter last year. sell-side analysts anticipate that Graco Inc. will post 4.36 earnings per share for the current fiscal year.
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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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