Regal Investment Advisors LLC raised its stake in shares of Graco Inc. (NYSE:GGG) by 4.0% in the 1st quarter, Holdings Channel reports. The fund owned 11,656 shares of the industrial products company’s stock after acquiring an additional 451 shares during the quarter. Regal Investment Advisors LLC’s holdings in Graco were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. MML Investors Services LLC raised its stake in Graco by 6.4% during the 4th quarter. MML Investors Services LLC now owns 9,166 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 554 shares during the last quarter. Rhumbline Advisers increased its position in Graco by 27.5% during the 4th quarter. Rhumbline Advisers now owns 480,016 shares of the industrial products company’s stock worth $20,089,000 after purchasing an additional 103,523 shares during the period. State of Tennessee Treasury Department increased its position in Graco by 2.0% during the 4th quarter. State of Tennessee Treasury Department now owns 119,585 shares of the industrial products company’s stock worth $5,005,000 after purchasing an additional 2,377 shares during the period. Arizona State Retirement System increased its position in Graco by 0.7% during the 4th quarter. Arizona State Retirement System now owns 119,458 shares of the industrial products company’s stock worth $4,999,000 after purchasing an additional 773 shares during the period. Finally, Suntrust Banks Inc. increased its position in Graco by 3.5% during the 4th quarter. Suntrust Banks Inc. now owns 58,771 shares of the industrial products company’s stock worth $2,459,000 after purchasing an additional 1,968 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the company. Zacks Investment Research cut Graco from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. DA Davidson reiterated a “neutral” rating on shares of Graco in a research report on Thursday, April 25th. ValuEngine upgraded Graco from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Seaport Global Securities reiterated a “hold” rating on shares of Graco in a research report on Wednesday, January 30th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $46.00 target price on shares of Graco in a research report on Wednesday, January 30th. Eight research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $46.20.
Shares of GGG traded up $0.21 on Friday, reaching $47.96. The stock had a trading volume of 357,014 shares, compared to its average volume of 574,332. The stock has a market cap of $7.99 billion, a P/E ratio of 25.51, a P/E/G ratio of 2.12 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.07 and a quick ratio of 1.23. Graco Inc. has a twelve month low of $37.36 and a twelve month high of $53.91.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $404.90 million during the quarter, compared to analyst estimates of $415.70 million. Graco had a return on equity of 41.51% and a net margin of 20.72%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. Research analysts expect that Graco Inc. will post 2 EPS for the current fiscal year.
In related news, CEO Patrick J. Mchale sold 182,610 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $51.17, for a total value of $9,344,153.70. Following the sale, the chief executive officer now owns 238,392 shares in the company, valued at approximately $12,198,518.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Timothy R. White sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $52.18, for a total value of $313,080.00. Following the completion of the sale, the insider now owns 50,660 shares in the company, valued at approximately $2,643,438.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 482,948 shares of company stock worth $23,695,607. Insiders own 4.23% of the company’s stock.
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Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.
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