Graco Inc. (GGG) Shares Sold by BlackRock Inc.

BlackRock Inc. trimmed its holdings in Graco Inc. (NYSE:GGG) by 0.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,648,276 shares of the industrial products company’s stock after selling 64,416 shares during the period. BlackRock Inc. owned about 0.09% of Graco worth $678,803,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Aperio Group LLC increased its holdings in Graco by 3.2% in the 2nd quarter. Aperio Group LLC now owns 47,639 shares of the industrial products company’s stock worth $2,154,000 after buying an additional 1,461 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Graco by 18.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,930 shares of the industrial products company’s stock worth $494,000 after buying an additional 1,675 shares in the last quarter. Arizona State Retirement System increased its holdings in Graco by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 116,365 shares of the industrial products company’s stock worth $5,262,000 after buying an additional 1,762 shares in the last quarter. Bank of Montreal Can increased its holdings in Graco by 0.8% in the 3rd quarter. Bank of Montreal Can now owns 229,408 shares of the industrial products company’s stock worth $10,631,000 after buying an additional 1,782 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Graco by 727.8% in the 2nd quarter. Signaturefd LLC now owns 2,235 shares of the industrial products company’s stock worth $101,000 after buying an additional 1,965 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

GGG has been the subject of a number of recent research reports. ValuEngine downgraded Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Oppenheimer restated a “hold” rating on shares of Graco in a research note on Wednesday, August 22nd. DA Davidson set a $49.00 price target on Graco and gave the company a “hold” rating in a research note on Monday, August 20th. SunTrust Banks restated a “hold” rating and set a $45.00 price target on shares of Graco in a research note on Monday, October 29th. Finally, Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Graco currently has an average rating of “Hold” and an average target price of $48.67.

Graco stock opened at $44.66 on Tuesday. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.92 and a beta of 1.19. Graco Inc. has a 52-week low of $37.36 and a 52-week high of $49.69. The company has a quick ratio of 1.71, a current ratio of 2.77 and a debt-to-equity ratio of 0.33.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. The business had revenue of $415.94 million during the quarter, compared to the consensus estimate of $403.62 million. Graco had a return on equity of 42.19% and a net margin of 18.73%. On average, sell-side analysts expect that Graco Inc. will post 1.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 7th. Shareholders of record on Monday, October 22nd were paid a dividend of $0.1325 per share. The ex-dividend date was Friday, October 19th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.19%. Graco’s dividend payout ratio is currently 37.06%.

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Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used 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.

Further Reading: What is Cost of Debt?

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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