Graco Inc. (NYSE:GGG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in Graco Inc. (NYSE:GGG) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 368,067 shares of the industrial products company’s stock after selling 1,508 shares during the period. Retirement Systems of Alabama owned about 0.22% of Graco worth $32,210,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Graco by 220.9% in the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 475 shares in the last quarter. Gradient Investments LLC bought a new position in Graco during the 2nd quarter worth approximately $27,000. Raymond James & Associates grew its position in shares of Graco by 8.8% in the 2nd quarter. Raymond James & Associates now owns 354,159 shares of the industrial products company’s stock worth $28,078,000 after acquiring an additional 28,693 shares in the last quarter. Marshall Financial Group LLC increased its holdings in shares of Graco by 2.8% in the 2nd quarter. Marshall Financial Group LLC now owns 12,053 shares of the industrial products company’s stock valued at $956,000 after acquiring an additional 331 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its position in shares of Graco by 15.1% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 30,646 shares of the industrial products company’s stock valued at $2,430,000 after acquiring an additional 4,032 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GGG. Royal Bank of Canada decreased their price objective on shares of Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Robert W. Baird dropped their price objective on shares of Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, DA Davidson restated a “neutral” rating and issued a $79.00 target price on shares of Graco in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.25.

Graco Trading Down 0.8 %

Shares of NYSE:GGG opened at $87.97 on Friday. The firm’s 50 day moving average is $87.21 and its two-hundred day moving average is $83.49. The firm has a market capitalization of $14.85 billion, a P/E ratio of 31.08, a PEG ratio of 3.11 and a beta of 0.83. Graco Inc. has a 52 week low of $77.49 and a 52 week high of $94.77.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). Graco had a net margin of 22.87% and a return on equity of 21.24%. The business had revenue of $519.21 million during the quarter, compared to analyst estimates of $538.19 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. Analysts predict that Graco Inc. will post 2.89 EPS for the current year.

Graco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Monday, January 20th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, January 17th. This is a positive change from Graco’s previous quarterly dividend of $0.26. Graco’s dividend payout ratio is currently 36.04%.

Insider Buying and Selling at Graco

In other news, insider David J. Thompson sold 3,216 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total value of $284,004.96. Following the completion of the sale, the insider now owns 27,246 shares in the company, valued at $2,406,094.26. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Caroline M. Chambers sold 8,280 shares of Graco stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $90.57, for a total value of $749,919.60. Following the transaction, the insider now directly owns 57,612 shares in the company, valued at approximately $5,217,918.84. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,098 shares of company stock valued at $2,776,150. Company insiders own 2.63% 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. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.