Graco Inc. (GGG) Position Raised by Atlantic Trust Group LLC

Atlantic Trust Group LLC increased its position in shares of Graco Inc. (NYSE:GGG) by 1,964.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,775 shares of the industrial products company’s stock after purchasing an additional 10,253 shares during the period. Atlantic Trust Group LLC’s holdings in Graco were worth $492,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Treasurer State of Michigan increased its position in Graco by 2.0% during the first quarter. State Treasurer State of Michigan now owns 61,800 shares of the industrial products company’s stock worth $2,825,000 after purchasing an additional 1,200 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Graco by 4.8% during the first quarter. Thrivent Financial for Lutherans now owns 38,651 shares of the industrial products company’s stock worth $1,767,000 after purchasing an additional 1,778 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in Graco by 3.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 52,650 shares of the industrial products company’s stock worth $2,407,000 after purchasing an additional 1,830 shares during the last quarter. First Republic Investment Management Inc. increased its position in Graco by 12.1% during the first quarter. First Republic Investment Management Inc. now owns 17,315 shares of the industrial products company’s stock worth $792,000 after purchasing an additional 1,864 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Graco by 0.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 270,475 shares of the industrial products company’s stock worth $12,364,000 after purchasing an additional 2,116 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Shares of GGG opened at $45.22 on Monday. Graco Inc. has a 1-year low of $34.89 and a 1-year high of $49.69. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 31.62, a P/E/G ratio of 2.32 and a beta of 1.14. The company has a quick ratio of 1.60, a current ratio of 2.55 and a debt-to-equity ratio of 0.39.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Graco had a net margin of 17.99% and a return on equity of 41.12%. The business had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $369.61 million. During the same period last year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. equities research analysts predict that Graco Inc. will post 1.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Sunday, July 15th will be given a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, July 12th. Graco’s dividend payout ratio is presently 37.06%.

Several research firms recently issued reports on GGG. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research report on Wednesday, May 2nd. ValuEngine upgraded shares of Graco from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, DA Davidson began coverage on shares of Graco in a research report on Thursday, April 12th. They set a “neutral” rating and a $48.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $47.30.

In other Graco news, Director Eric Etchart sold 15,000 shares of Graco stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $43.83, for a total transaction of $657,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick J. Mchale sold 221,670 shares of Graco stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $45.13, for a total transaction of $10,003,967.10. Following the completion of the transaction, the insider now owns 453,931 shares of the company’s stock, valued at approximately $20,485,906.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 347,204 shares of company stock valued at $15,838,068. Company insiders own 5.10% of the company’s stock.

Graco Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.

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.


Leave a Reply