Clarkston Capital Partners LLC Trims Stake in Graco Inc. (GGG)

Clarkston Capital Partners LLC decreased its holdings in shares of Graco Inc. (NYSE:GGG) by 43.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,726 shares of the industrial products company’s stock after selling 149,107 shares during the period. Clarkston Capital Partners LLC owned approximately 0.34% of Graco worth $23,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of GGG. OppenheimerFunds Inc. boosted its position in shares of Graco by 8.3% during the 1st quarter. OppenheimerFunds Inc. now owns 3,533 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 271 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Graco during the 1st quarter valued at about $206,000. Teachers Advisors LLC boosted its position in shares of Graco by 5.2% during the 1st quarter. Teachers Advisors LLC now owns 61,199 shares of the industrial products company’s stock valued at $5,761,000 after purchasing an additional 3,010 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Graco by 10.7% during the 1st quarter. Thrivent Financial For Lutherans now owns 10,540 shares of the industrial products company’s stock valued at $992,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Graco by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 370,797 shares of the industrial products company’s stock valued at $34,906,000 after purchasing an additional 23,882 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

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Several equities analysts have recently weighed in on the stock. Robert W. Baird restated a “hold” rating and set a $135.00 price objective on shares of Graco in a research report on Friday, October 27th. SunTrust Banks, Inc. restated a “hold” rating and set a $128.00 price objective on shares of Graco in a research report on Friday, October 27th. FBR & Co set a $140.00 price objective on shares of Graco and gave the company a “hold” rating in a research report on Thursday, October 26th. KeyCorp restated a “hold” rating on shares of Graco in a research report on Friday, October 20th. Finally, Wolfe Research restated a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $116.75.

Graco Inc. (NYSE:GGG) traded down 0.33% during mid-day trading on Wednesday, reaching $131.36. 53,832 shares of the company’s stock were exchanged. The stock has a market cap of $7.36 billion, a P/E ratio of 83.35 and a beta of 1.25. The stock has a 50-day moving average price of $124.70 and a 200-day moving average price of $114.01. Graco Inc. has a 52 week low of $73.40 and a 52 week high of $134.11.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. The company had revenue of $379.81 million during the quarter, compared to analyst estimates of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. On average, analysts forecast that Graco Inc. will post $4.39 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.09%. Graco’s payout ratio is currently 75.79%.

In other news, VP David M. Ahlers sold 22,500 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $120.01, for a total transaction of $2,700,225.00. Following the completion of the transaction, the vice president now directly owns 42,047 shares in the company, valued at approximately $5,046,060.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark W. Sheahan sold 30,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $131.31, for a total value of $3,939,300.00. Following the transaction, the vice president now owns 49,538 shares of the company’s stock, valued at $6,504,834.78. The disclosure for this sale can be found here. Insiders have sold a total of 162,516 shares of company stock valued at $10,298,479 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Graco Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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