Valley National Advisers Inc. increased its holdings in shares of Graco Inc. (NYSE:GGG – Get Rating) by 115.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,854 shares of the industrial products company's stock after acquiring an additional 2,598 shares during the quarter. Valley National Advisers Inc.'s holdings in Graco were worth $298,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Rockefeller Capital Management L.P. grew its holdings in Graco by 400.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 355 shares of the industrial products company's stock valued at $27,000 after buying an additional 284 shares in the last quarter. Prospera Financial Services Inc acquired a new position in Graco in the 1st quarter valued at $29,000. Allworth Financial LP grew its holdings in Graco by 804.3% in the 1st quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock valued at $30,000 after buying an additional 378 shares in the last quarter. Artemis Wealth Advisors LLC acquired a new position in Graco in the 1st quarter valued at $35,000. Finally, Okabena Investment Services Inc. acquired a new position in Graco in the 4th quarter valued at $44,000. 86.47% of the stock is owned by institutional investors and hedge funds.
Get Graco alerts:Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Morgan Stanley decreased their price objective on Graco from $80.00 to $70.00 and set an "equal weight" rating on the stock in a report on Thursday, June 9th. DA Davidson cut their target price on Graco to $70.00 in a research report on Tuesday, August 9th. Finally, Robert W. Baird downgraded Graco from an "outperform" rating to a "neutral" rating and set a $61.00 target price for the company. in a research report on Thursday, July 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $71.00.
Graco Price Performance
Shares of GGG stock opened at $61.21 on Friday. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.04. Graco Inc. has a twelve month low of $56.48 and a twelve month high of $81.09. The company has a market cap of $10.35 billion, a P/E ratio of 24.10, a P/E/G ratio of 2.95 and a beta of 0.78. The business has a fifty day simple moving average of $65.44 and a 200 day simple moving average of $64.36.Graco (NYSE:GGG – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. Graco had a return on equity of 25.73% and a net margin of 21.38%. The business had revenue of $548.55 million during the quarter, compared to the consensus estimate of $533.49 million. During the same period in the prior year, the company earned $0.62 EPS. Graco's revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that Graco Inc. will post 2.59 EPS for the current fiscal year.
Insider Buying and Selling
In other Graco news, Director Eric Etchart sold 6,000 shares of the company's stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $67.20, for a total value of $403,200.00. Following the completion of the transaction, the director now owns 31,403 shares of the company's stock, valued at approximately $2,110,281.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Graco news, Director Eric Etchart sold 6,000 shares of the company's stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $67.20, for a total value of $403,200.00. Following the completion of the transaction, the director now owns 31,403 shares of the company's stock, valued at approximately $2,110,281.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David M. Ahlers sold 44,949 shares of the company's stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $70.77, for a total value of $3,181,040.73. Following the completion of the transaction, the executive vice president now directly owns 65,135 shares of the company's stock, valued at approximately $4,609,603.95. The disclosure for this sale can be found here. 3.52% of the stock is owned by corporate insiders.
About Graco
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Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; 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, and precision dispensing solutions.
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