Graco Inc. (GGG) Position Reduced by GW&K Investment Management LLC

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GW&K Investment Management LLC decreased its position in Graco Inc. (NYSE:GGG) by 0.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 444,599 shares of the industrial products company’s stock after selling 2,127 shares during the period. GW&K Investment Management LLC owned about 0.27% of Graco worth $20,603,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. ING Groep NV boosted its stake in shares of Graco by 26.0% during the 3rd quarter. ING Groep NV now owns 25,552 shares of the industrial products company’s stock valued at $1,184,000 after buying an additional 5,272 shares during the period. Stone Ridge Asset Management LLC boosted its stake in shares of Graco by 28.2% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 25,290 shares of the industrial products company’s stock valued at $1,172,000 after buying an additional 5,560 shares during the period. Regal Investment Advisors LLC acquired a new stake in shares of Graco during the 3rd quarter valued at $559,000. Virginia Retirement Systems ET AL boosted its stake in shares of Graco by 131.0% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 36,500 shares of the industrial products company’s stock valued at $1,691,000 after buying an additional 20,700 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in shares of Graco by 19.8% during the 3rd quarter. WINTON GROUP Ltd now owns 27,045 shares of the industrial products company’s stock valued at $1,253,000 after buying an additional 4,467 shares during the period. 85.91% of the stock is owned by hedge funds and other institutional investors.

In other Graco news, insider Caroline M. Chambers sold 97,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $47.10, for a total value of $4,592,250.00. Following the completion of the sale, the insider now owns 119,092 shares of the company’s stock, valued at $5,609,233.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack W. Eugster sold 32,297 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $46.66, for a total transaction of $1,506,978.02. Following the completion of the sale, the director now directly owns 103,251 shares of the company’s stock, valued at approximately $4,817,691.66. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.

Shares of NYSE GGG opened at $42.44 on Wednesday. Graco Inc. has a 1-year low of $37.36 and a 1-year high of $49.69. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 2.82 and a beta of 1.17. The company has a quick ratio of 1.71, a current ratio of 2.77 and a debt-to-equity ratio of 0.33.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 24th. The industrial products company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. Graco had a net margin of 18.73% and a return on equity of 42.19%. The company had revenue of $415.94 million during the quarter, compared to the consensus estimate of $403.62 million. On average, equities research analysts anticipate that Graco Inc. will post 1.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 7th. Investors of record on Monday, October 22nd were paid a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, October 19th. Graco’s dividend payout ratio (DPR) is 37.06%.

A number of equities research analysts have issued reports on GGG shares. ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Oppenheimer restated a “hold” rating on shares of Graco in a report on Wednesday, August 22nd. DA Davidson set a $49.00 price target on shares of Graco and gave the company a “hold” rating in a report on Monday, August 20th. Royal Bank of Canada restated a “hold” rating and set a $49.00 price target on shares of Graco in a report on Friday, July 27th. Finally, Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a report on Monday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Graco has a consensus rating of “Hold” and an average price target of $48.67.

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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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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