Guggenheim Capital LLC Trims Holdings in Graco Inc. (GGG)

Guggenheim Capital LLC cut its stake in Graco Inc. (NYSE:GGG) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,880 shares of the industrial products company’s stock after selling 8,539 shares during the period. Guggenheim Capital LLC owned approximately 0.12% of Graco worth $9,047,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. boosted its holdings in Graco by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 2,385 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 1,590 shares during the period. Cetera Advisor Networks LLC bought a new stake in Graco in the 1st quarter valued at $200,000. Northwest Bancshares Inc. bought a new stake in Graco in the 1st quarter valued at $202,000. HM Payson & Co. bought a new stake in Graco in the 4th quarter valued at $255,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Graco by 93.9% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,522 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 3,159 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Graco opened at $45.03 on Friday, Marketbeat reports. Graco Inc. has a 52-week low of $34.89 and a 52-week high of $49.69. The firm has a market capitalization of $7.55 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.31 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 data on Wednesday, April 25th. The industrial products company reported $0.48 earnings per share (EPS) 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 company had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $369.61 million. During the same quarter in the prior year, the company posted $1.05 EPS. The business’s revenue was up 19.3% on a year-over-year basis. equities research analysts forecast that Graco Inc. will post 1.89 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Sunday, July 15th will be paid a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, July 12th. Graco’s dividend payout ratio is 37.06%.

In related news, Director Eric Etchart sold 15,000 shares of the 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 at the SEC website. Also, insider Patrick J. Mchale sold 221,670 shares of the stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $45.13, for a total transaction of $10,003,967.10. Following the sale, 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. In the last 90 days, insiders sold 347,204 shares of company stock valued at $15,838,068. Corporate insiders own 5.10% of the company’s stock.

Graco Company 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.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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