Graco Inc. (NYSE:GGG) Stake Boosted by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Graco Inc. (NYSE:GGG) by 0.5% during the first quarter, HoldingsChannel reports. The firm owned 7,152,329 shares of the industrial products company’s stock after buying an additional 32,327 shares during the quarter. Graco comprises 2.0% of Kayne Anderson Rudnick Investment Management LLC’s portfolio, making the stock its 11th largest holding. Kayne Anderson Rudnick Investment Management LLC’s holdings in Graco were worth $354,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ETF Managers Group LLC raised its holdings in shares of Graco by 8.3% during the first quarter. ETF Managers Group LLC now owns 3,158 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 242 shares during the period. Eukles Asset Management raised its holdings in shares of Graco by 1.9% during the first quarter. Eukles Asset Management now owns 15,744 shares of the industrial products company’s stock worth $780,000 after acquiring an additional 287 shares during the period. Stephens Inc. AR raised its holdings in shares of Graco by 6.6% during the fourth quarter. Stephens Inc. AR now owns 5,236 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 322 shares during the period. Utah Retirement Systems raised its holdings in shares of Graco by 1.1% during the first quarter. Utah Retirement Systems now owns 31,176 shares of the industrial products company’s stock worth $1,544,000 after acquiring an additional 342 shares during the period. Finally, Brinker Capital Inc. raised its holdings in shares of Graco by 1.0% during the fourth quarter. Brinker Capital Inc. now owns 35,329 shares of the industrial products company’s stock worth $1,479,000 after acquiring an additional 358 shares during the period. 83.61% of the stock is currently owned by institutional investors.

GGG stock traded down $0.30 during midday trading on Friday, hitting $49.46. The company’s stock had a trading volume of 396,119 shares, compared to its average volume of 397,995. The company has a current ratio of 2.07, a quick ratio of 1.23 and a debt-to-equity ratio of 0.21. Graco Inc. has a twelve month low of $37.36 and a twelve month high of $53.91. The firm has a market capitalization of $8.24 billion, a P/E ratio of 26.31, a PEG ratio of 2.15 and a beta of 1.00.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). Graco had a net margin of 20.72% and a return on equity of 41.51%. The business had revenue of $404.90 million during the quarter, compared to analyst estimates of $415.70 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities research analysts forecast that Graco Inc. will post 2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.29%. Graco’s payout ratio is currently 34.04%.

In other Graco news, insider Jeffrey P. Johnson sold 15,000 shares of Graco stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $48.85, for a total value of $732,750.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Karen Park Gallivan sold 27,900 shares of Graco stock in a transaction on Monday, April 1st. The shares were sold at an average price of $50.00, for a total transaction of $1,395,000.00. Following the completion of the sale, the insider now owns 75,293 shares in the company, valued at $3,764,650. The disclosure for this sale can be found here. Insiders sold a total of 231,510 shares of company stock worth $11,784,984 over the last quarter. Company insiders own 4.23% of the company’s stock.

GGG has been the topic of a number of research analyst reports. DA Davidson restated a “neutral” rating on shares of Graco in a report on Thursday, April 25th. Zacks Investment Research lowered shares of Graco from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $47.00.

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Graco Company Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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