Graco Inc. $GGG Shares Sold by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC lessened its position in Graco Inc. (NYSE:GGG) by 4.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 148,326 shares of the industrial products company’s stock after selling 6,705 shares during the period. Graco makes up 2.2% of Mountain Pacific Investment Advisers LLC’s holdings, making the stock its 13th largest position. Mountain Pacific Investment Advisers LLC owned about 0.09% of Graco worth $12,556,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. State Street Corp grew its holdings in Graco by 3.2% during the fourth quarter. State Street Corp now owns 7,813,877 shares of the industrial products company’s stock worth $640,503,000 after acquiring an additional 242,817 shares during the period. Geode Capital Management LLC raised its position in Graco by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 4,652,241 shares of the industrial products company’s stock worth $380,642,000 after acquiring an additional 261,126 shares in the last quarter. Morgan Stanley lifted its holdings in Graco by 5.4% in the 4th quarter. Morgan Stanley now owns 4,057,036 shares of the industrial products company’s stock valued at $332,556,000 after acquiring an additional 206,949 shares during the last quarter. Amundi lifted its holdings in Graco by 2.6% in the 3rd quarter. Amundi now owns 2,076,887 shares of the industrial products company’s stock valued at $176,016,000 after acquiring an additional 53,126 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Graco during the 4th quarter valued at about $161,949,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Trading Up 0.0%

Shares of NYSE GGG opened at $76.06 on Monday. Graco Inc. has a one year low of $73.26 and a one year high of $95.69. The business has a 50-day moving average price of $78.61 and a two-hundred day moving average price of $84.06. The firm has a market capitalization of $12.62 billion, a PE ratio of 24.77, a PEG ratio of 2.45 and a beta of 0.93.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The business had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. Graco’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Research analysts anticipate that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. Graco’s payout ratio is presently 38.44%.

Insider Buying and Selling

In related news, Director Andrea Helen Simon acquired 1,240 shares of the company’s stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director owned 1,240 shares in the company, valued at $99,857.20. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.18% of the company’s stock.

Analysts Set New Price Targets

GGG has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. DA Davidson restated a “neutral” rating and set a $85.00 target price on shares of Graco in a report on Monday, April 27th. Finally, Robert W. Baird decreased their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $94.25.

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.