Atria Investments LLC Boosts Holdings in Graco Inc. (GGG)

Atria Investments LLC lifted its stake in shares of Graco Inc. (NYSE:GGG) by 80.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,180 shares of the industrial products company’s stock after acquiring an additional 5,434 shares during the period. Atria Investments LLC’s holdings in Graco were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Banco de Sabadell S.A acquired a new stake in shares of Graco during the second quarter valued at $614,000. OppenheimerFunds Inc. boosted its stake in shares of Graco by 30.3% during the second quarter. OppenheimerFunds Inc. now owns 13,212 shares of the industrial products company’s stock valued at $597,000 after acquiring an additional 3,074 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Graco by 147.5% during the second quarter. Millennium Management LLC now owns 366,802 shares of the industrial products company’s stock valued at $16,587,000 after acquiring an additional 218,570 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Graco by 9.8% during the second quarter. Schroder Investment Management Group now owns 823,661 shares of the industrial products company’s stock valued at $37,090,000 after acquiring an additional 73,645 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Graco by 1.5% during the second quarter. Arizona State Retirement System now owns 116,365 shares of the industrial products company’s stock valued at $5,262,000 after acquiring an additional 1,762 shares during the last quarter. 85.68% of the stock is currently owned by institutional investors and hedge funds.

GGG has been the topic of a number of analyst reports. Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Graco in a research note on Thursday, July 26th. Royal Bank of Canada reaffirmed a “hold” rating and set a $49.00 price objective on shares of Graco in a research note on Friday, July 27th. DA Davidson set a $49.00 price objective on Graco and gave the company a “hold” rating in a research note on Monday, August 20th. Finally, ValuEngine lowered Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $49.17.

NYSE GGG opened at $39.84 on Friday. Graco Inc. has a twelve month low of $39.26 and a twelve month high of $49.69. The stock has a market cap of $7.75 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 2.91 and a beta of 1.09. The company has a current ratio of 2.65, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 25th. The industrial products company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). Graco had a return on equity of 40.67% and a net margin of 18.07%. The business had revenue of $424.60 million for the quarter, compared to analysts’ expectations of $421.19 million. During the same quarter last year, the company posted $1.38 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Graco Inc. will post 1.84 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Monday, October 22nd will be given a dividend of $0.1325 per share. The ex-dividend date is Friday, October 19th. This represents a $0.53 annualized dividend and a yield of 1.33%. Graco’s dividend payout ratio (DPR) is presently 37.06%.

In related news, Director Jack W. Eugster sold 32,297 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $46.66, for a total transaction of $1,506,978.02. Following the transaction, the director now directly owns 103,251 shares in the company, valued at $4,817,691.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Caroline M. Chambers sold 97,500 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $47.10, for a total value of $4,592,250.00. Following the completion of the transaction, the insider now owns 119,092 shares in the company, valued at $5,609,233.20. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

About Graco

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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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