Graco Inc. (NYSE:GGG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Graco Inc. (NYSE:GGG) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,432 shares of the industrial products company’s stock after selling 5,759 shares during the period. Mutual of America Capital Management LLC’s holdings in Graco were worth $8,614,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vident Advisory LLC raised its position in shares of Graco by 567.4% in the 1st quarter. Vident Advisory LLC now owns 42,899 shares of the industrial products company’s stock valued at $4,009,000 after purchasing an additional 36,471 shares in the last quarter. M&G Plc increased its holdings in shares of Graco by 2.0% in the 2nd quarter. M&G Plc now owns 483,535 shares of the industrial products company’s stock valued at $38,199,000 after acquiring an additional 9,673 shares during the last quarter. Private Wealth Partners LLC bought a new stake in shares of Graco in the 3rd quarter valued at approximately $876,000. Achmea Investment Management B.V. increased its holdings in shares of Graco by 95.1% in the 2nd quarter. Achmea Investment Management B.V. now owns 17,226 shares of the industrial products company’s stock valued at $1,365,000 after acquiring an additional 8,396 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in shares of Graco by 1.7% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 857,281 shares of the industrial products company’s stock valued at $67,965,000 after acquiring an additional 14,527 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Up 0.7 %

Shares of NYSE GGG opened at $90.22 on Tuesday. Graco Inc. has a 12 month low of $77.49 and a 12 month high of $94.77. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 3.07 and a beta of 0.82. The business has a fifty day simple moving average of $85.31 and a 200-day simple moving average of $82.55.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The company had revenue of $519.21 million for the quarter, compared to analysts’ expectations of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 earnings per share. As a group, sell-side analysts expect that Graco Inc. will post 2.91 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.13%. The ex-dividend date was Monday, October 21st. Graco’s payout ratio is 36.04%.

Insider Activity at Graco

In other Graco news, insider David J. Thompson sold 3,216 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $88.31, for a total value of $284,004.96. Following the transaction, the insider now directly owns 27,246 shares of the company’s stock, valued at $2,406,094.26. This represents a 10.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter J. O’shea sold 18,075 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $88.76, for a total value of $1,604,337.00. Following the completion of the transaction, the insider now directly owns 14,516 shares in the company, valued at approximately $1,288,440.16. The trade was a 55.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson reiterated a “neutral” rating and issued a $79.00 price target on shares of Graco in a report on Friday, September 27th. Royal Bank of Canada cut their price objective on Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird cut their price objective on Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.25.

Graco Profile

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.