Graco Inc. (NYSE:GGG) Shares Purchased by Assetmark Inc.

Assetmark Inc. grew its stake in shares of Graco Inc. (NYSE:GGGFree Report) by 38.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,996 shares of the industrial products company’s stock after purchasing an additional 2,488 shares during the quarter. Assetmark Inc.’s holdings in Graco were worth $780,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Advisory Services Inc. raised its holdings in Graco by 5.5% during the third quarter. Meeder Advisory Services Inc. now owns 3,004 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 157 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Graco by 24.3% during the fourth quarter. Lindbrook Capital LLC now owns 931 shares of the industrial products company’s stock valued at $81,000 after buying an additional 182 shares in the last quarter. Valley Wealth Managers Inc. grew its holdings in Graco by 5.9% during the third quarter. Valley Wealth Managers Inc. now owns 3,427 shares of the industrial products company’s stock worth $250,000 after acquiring an additional 192 shares during the period. D.B. Root & Company LLC raised its position in Graco by 1.7% in the fourth quarter. D.B. Root & Company LLC now owns 12,421 shares of the industrial products company’s stock worth $1,078,000 after acquiring an additional 205 shares in the last quarter. Finally, Diversified Trust Co raised its position in Graco by 2.5% in the third quarter. Diversified Trust Co now owns 10,344 shares of the industrial products company’s stock worth $754,000 after acquiring an additional 256 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Graco news, insider Timothy R. White sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $92.82, for a total value of $232,050.00. Following the transaction, the insider now owns 48,282 shares in the company, valued at approximately $4,481,535.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Graco news, insider Claudio Merengo sold 5,312 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.04, for a total value of $478,292.48. Following the transaction, the insider now owns 18,847 shares in the company, valued at $1,696,983.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy R. White sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $92.82, for a total value of $232,050.00. Following the sale, the insider now directly owns 48,282 shares of the company’s stock, valued at $4,481,535.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,436 shares of company stock worth $1,510,952. 2.63% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GGG. Robert W. Baird reduced their price objective on shares of Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. William Blair reissued a “market perform” rating on shares of Graco in a research note on Friday, April 26th. Royal Bank of Canada boosted their target price on Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, StockNews.com upgraded Graco from a “hold” rating to a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.25.

Read Our Latest Analysis on Graco

Graco Stock Down 0.1 %

Shares of NYSE:GGG opened at $81.48 on Tuesday. The company has a market cap of $13.78 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 2.68 and a beta of 0.84. The company’s fifty day moving average is $87.36 and its two-hundred day moving average is $86.29. Graco Inc. has a 12-month low of $69.78 and a 12-month high of $94.77.

Graco (NYSE:GGGGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.09). Graco had a return on equity of 23.01% and a net margin of 23.15%. The business had revenue of $492.19 million during the quarter, compared to analysts’ expectations of $536.19 million. During the same period in the prior year, the company posted $0.74 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. Equities research analysts anticipate that Graco Inc. will post 3.05 earnings per share for the current year.

About Graco

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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