Seilern Investment Management Ltd Sells 8,893 Shares of Graco Inc. $GGG

Seilern Investment Management Ltd lessened its stake in shares of Graco Inc. (NYSE:GGG) by 9.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 83,370 shares of the industrial products company’s stock after selling 8,893 shares during the period. Graco makes up approximately 0.5% of Seilern Investment Management Ltd’s holdings, making the stock its 19th largest holding. Seilern Investment Management Ltd owned approximately 0.05% of Graco worth $6,834,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Stonebridge Capital Advisors LLC increased its position in Graco by 0.3% during the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after acquiring an additional 119 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Graco by 7.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 125 shares during the last quarter. ICW Investment Advisors LLC lifted its holdings in shares of Graco by 4.6% in the 3rd quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 126 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Graco by 7.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 135 shares during the period. Finally, Viawealth LLC boosted its stake in shares of Graco by 0.3% during the 3rd quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock worth $4,519,000 after purchasing an additional 137 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Graco Price Performance

GGG stock opened at $85.24 on Tuesday. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $95.69. The firm’s 50-day moving average is $89.73 and its 200 day moving average is $85.34. The company has a market capitalization of $14.13 billion, a PE ratio of 27.59, a P/E/G ratio of 2.63 and a beta of 1.07.

Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. Graco had a net margin of 23.33% and a return on equity of 19.49%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. Sell-side analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco announced that its board has authorized a share buyback program on Friday, December 5th that allows the company to repurchase 15,000,000 shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be issued a $0.295 dividend. The ex-dividend date is Monday, April 13th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. Graco’s payout ratio is presently 38.19%.

Insider Transactions at Graco

In other Graco news, insider Timothy R. White sold 1,469 shares of Graco stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $90.70, for a total transaction of $133,238.30. Following the completion of the sale, the insider directly owned 51,430 shares of the company’s stock, valued at $4,664,701. The trade was a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J Kevin Gilligan sold 12,870 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total value of $1,146,330.90. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,394 shares of company stock worth $1,739,326 in the last ninety days. 2.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GGG shares. Royal Bank Of Canada increased their price objective on shares of Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Robert W. Baird set a $96.00 target price on Graco in a research report on Wednesday, January 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Weiss Ratings upgraded Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Finally, DA Davidson reissued a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Graco has a consensus rating of “Moderate Buy” and an average price target of $96.50.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.