Bbva Compass Bancshares Inc. cut its stake in Graco Inc. (NYSE:GGG) by 20.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,927 shares of the industrial products company’s stock after selling 9,511 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Graco were worth $1,878,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. BB&T Corp increased its holdings in shares of Graco by 3.5% in the 4th quarter. BB&T Corp now owns 7,656 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 259 shares during the period. Naples Global Advisors LLC boosted its position in shares of Graco by 5.1% in the 4th quarter. Naples Global Advisors LLC now owns 5,865 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 285 shares in the last quarter. Eukles Asset Management boosted its position in shares of Graco by 1.9% in the 1st quarter. Eukles Asset Management now owns 15,744 shares of the industrial products company’s stock worth $780,000 after purchasing an additional 287 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Graco by 6.6% in the 4th quarter. Stephens Inc. AR now owns 5,236 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 322 shares in the last quarter. Finally, Brinker Capital Inc. boosted its position in shares of Graco by 1.0% in the 4th quarter. Brinker Capital Inc. now owns 35,329 shares of the industrial products company’s stock worth $1,479,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds own 85.17% of the company’s stock.
In other Graco news, VP Angela F. Wordell sold 7,500 shares of Graco stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $47.50, for a total transaction of $356,250.00. Following the completion of the sale, the vice president now owns 15,802 shares of the company’s stock, valued at approximately $750,595. The sale 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 Graco stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $52.18, for a total value of $313,080.00. Following the sale, the insider now directly owns 50,660 shares of the company’s stock, valued at approximately $2,643,438.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 504,248 shares of company stock valued at $24,685,631. 4.23% of the stock is currently owned by insiders.
Graco stock opened at $51.41 on Friday. Graco Inc. has a 1-year low of $37.36 and a 1-year high of $53.91. The company has a quick ratio of 1.23, a current ratio of 2.07 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $8.47 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97.
Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.02). Graco had a return on equity of 41.51% and a net margin of 20.72%. The firm had revenue of $404.90 million for the quarter, compared to analyst estimates of $415.70 million. During the same period in the prior year, the firm posted $0.48 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, equities research analysts expect that Graco Inc. will post 2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were given a dividend of $0.16 per share. The ex-dividend date was Friday, April 12th. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. Graco’s dividend payout ratio is currently 34.04%.
A number of research firms have recently weighed in on GGG. Zacks Investment Research cut Graco from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. DA Davidson reissued a “neutral” rating on shares of Graco in a research report on Thursday, April 25th. ValuEngine raised Graco from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Seaport Global Securities reissued a “hold” rating on shares of Graco in a research report on Wednesday, January 30th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $46.00 price objective on shares of Graco in a research report on Wednesday, January 30th. Eight investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $46.20.
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; 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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