Graco Inc. (GGG) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund reduced its stake in shares of Graco Inc. (NYSE:GGG) by 2.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 105,171 shares of the industrial products company’s stock after selling 3,004 shares during the period. Texas Permanent School Fund owned approximately 0.06% of Graco worth $4,874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in shares of Graco by 51.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,086 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 1,396 shares during the last quarter. Aperio Group LLC lifted its stake in Graco by 3.2% in the second quarter. Aperio Group LLC now owns 47,639 shares of the industrial products company’s stock worth $2,154,000 after purchasing an additional 1,461 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Graco by 25.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,166 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 1,644 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Graco by 18.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,930 shares of the industrial products company’s stock worth $494,000 after purchasing an additional 1,675 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Graco by 1.5% in the second quarter. Arizona State Retirement System now owns 116,365 shares of the industrial products company’s stock worth $5,262,000 after purchasing an additional 1,762 shares during the last quarter. 85.56% of the stock is owned by institutional investors.

GGG has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Graco from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Oppenheimer reissued a “hold” rating on shares of Graco in a research note on Wednesday, August 22nd. DA Davidson set a $49.00 price target on shares of Graco and gave the stock a “hold” rating in a research note on Monday, August 20th. Royal Bank of Canada reissued a “hold” rating and issued a $49.00 price target on shares of Graco in a research note on Friday, July 27th. Finally, ValuEngine downgraded shares of Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Graco has a consensus rating of “Hold” and an average price target of $48.67.



Graco stock opened at $40.44 on Friday. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.53 and a beta of 1.09. The company has a quick ratio of 1.64, a current ratio of 2.77 and a debt-to-equity ratio of 0.33. Graco Inc. has a twelve month low of $37.36 and a twelve month high of $49.69.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. The firm had revenue of $415.94 million during the quarter, compared to the consensus estimate of $403.62 million. Graco had a net margin of 18.73% and a return on equity of 42.19%. On average, equities analysts anticipate that Graco Inc. will post 1.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Monday, October 22nd will be paid a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, October 19th. Graco’s dividend payout ratio (DPR) is 37.06%.

In other news, Director Jack W. Eugster sold 32,297 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $46.66, for a total transaction of $1,506,978.02. Following the completion of the transaction, the director now directly owns 103,251 shares of the company’s stock, valued at $4,817,691.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Caroline M. Chambers sold 97,500 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $47.10, for a total transaction of $4,592,250.00. Following the transaction, the insider now directly owns 119,092 shares of the company’s stock, valued at $5,609,233.20. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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