Shell Asset Management Co. Acquires New Holdings in Graco Inc. (GGG)

Shell Asset Management Co. acquired a new position in Graco Inc. (NYSE:GGG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,800 shares of the industrial products company’s stock, valued at approximately $1,080,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GGG. OppenheimerFunds Inc. lifted its holdings in Graco by 8.3% in the first quarter. OppenheimerFunds Inc. now owns 3,533 shares of the industrial products company’s stock worth $333,000 after buying an additional 271 shares during the period. Wellington Management Group LLP purchased a new stake in Graco in the first quarter worth about $206,000. Teachers Advisors LLC lifted its holdings in Graco by 5.2% in the first quarter. Teachers Advisors LLC now owns 61,199 shares of the industrial products company’s stock worth $5,761,000 after buying an additional 3,010 shares during the period. Thrivent Financial For Lutherans lifted its holdings in Graco by 10.7% in the first quarter. Thrivent Financial For Lutherans now owns 10,540 shares of the industrial products company’s stock worth $992,000 after buying an additional 1,020 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Graco by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 370,797 shares of the industrial products company’s stock worth $34,906,000 after buying an additional 23,882 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

In other news, VP Mark W. Sheahan sold 30,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $131.31, for a total transaction of $3,939,300.00. Following the transaction, the vice president now directly owns 49,538 shares in the company, valued at $6,504,834.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP David M. Ahlers sold 22,500 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $120.01, for a total transaction of $2,700,225.00. Following the transaction, the vice president now owns 42,047 shares in the company, valued at $5,046,060.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,516 shares of company stock worth $10,298,479. Insiders own 5.70% of the company’s stock.

Graco Inc. (GGG) opened at 131.79 on Wednesday. The stock’s 50 day moving average is $124.70 and its 200 day moving average is $114.01. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 83.62 and a beta of 1.25. Graco Inc. has a 12-month low of $73.40 and a 12-month high of $134.11.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.09. Graco had a net margin of 7.72% and a return on equity of 42.05%. The firm had revenue of $379.81 million for the quarter, compared to the consensus estimate of $356.30 million. During the same period last year, the firm earned $0.95 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts predict that Graco Inc. will post $4.39 earnings per share for the current fiscal year.

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

Several brokerages have commented on GGG. Zacks Investment Research lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub upgraded shares of Graco from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Robert W. Baird restated a “hold” rating and issued a $135.00 price objective on shares of Graco in a report on Friday, October 27th. KeyCorp restated a “hold” rating on shares of Graco in a report on Friday, October 20th. Finally, Wolfe Research restated a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Graco has a consensus rating of “Hold” and an average price target of $116.75.

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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. 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.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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