Graco Inc. (NYSE:GGG) Stock Position Reduced by Cwm LLC

Cwm LLC decreased its stake in Graco Inc. (NYSE:GGG) by 20.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,391 shares of the industrial products company’s stock after selling 364 shares during the quarter. Cwm LLC’s holdings in Graco were worth $121,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GGG. Tobam raised its holdings in shares of Graco by 2,330.8% during the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 303 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Graco during the 4th quarter worth about $28,000. Fortitude Family Office LLC acquired a new stake in shares of Graco during the 4th quarter valued at about $29,000. Allspring Global Investments Holdings LLC grew its stake in shares of Graco by 3,063.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock valued at $44,000 after buying an additional 582 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Graco by 370.7% in the third quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company’s stock worth $46,000 after buying an additional 493 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insiders Place Their Bets

In other news, insider Timothy R. White sold 2,895 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $87.49, for a total transaction of $253,283.55. Following the completion of the transaction, the insider now owns 50,782 shares of the company’s stock, valued at $4,442,917.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Timothy R. White sold 2,895 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $87.49, for a total transaction of $253,283.55. Following the transaction, the insider now directly owns 50,782 shares in the company, valued at $4,442,917.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony J. Gargano sold 1,395 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $88.00, for a total value of $122,760.00. Following the completion of the sale, the insider now owns 5,697 shares of the company’s stock, valued at approximately $501,336. The disclosure for this sale can be found here. Insiders have sold 48,378 shares of company stock worth $4,376,528 in the last ninety days. Insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GGG. StockNews.com downgraded shares of Graco from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Jefferies Financial Group increased their target price on shares of Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Royal Bank of Canada boosted their price target on Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Robert W. Baird lowered their price objective on Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Finally, William Blair restated a “market perform” rating on shares of Graco in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Graco presently has an average rating of “Hold” and an average target price of $88.25.

Graco Stock Performance

Shares of NYSE:GGG opened at $82.12 on Monday. The stock’s 50-day moving average is $90.24 and its 200-day moving average is $85.28. The company has a market cap of $13.89 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.68 and a beta of 0.84. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Graco had a net margin of 23.15% and a return on equity of 23.01%. The business had revenue of $492.19 million during the quarter, compared to analyst estimates of $536.19 million. During the same period last year, the business earned $0.74 EPS. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts predict that Graco Inc. will post 3.07 EPS for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, April 12th. Graco’s dividend payout ratio (DPR) is presently 35.17%.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.