Cleararc Capital Inc. Acquires New Shares in Graco Inc. (NYSE:GGG)

Cleararc Capital Inc. purchased a new stake in Graco Inc. (NYSE:GGG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,243 shares of the industrial products company’s stock, valued at approximately $210,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Graco by 0.9% in the 1st quarter. BlackRock Inc. now owns 14,864,786 shares of the industrial products company’s stock valued at $736,106,000 after purchasing an additional 138,628 shares in the last quarter. Fiera Capital Corp lifted its position in Graco by 3.1% during the 1st quarter. Fiera Capital Corp now owns 10,736,344 shares of the industrial products company’s stock worth $531,663,000 after buying an additional 321,342 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Graco by 0.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,152,329 shares of the industrial products company’s stock worth $354,184,000 after buying an additional 32,327 shares in the last quarter. Wells Fargo & Company MN lifted its position in Graco by 0.4% during the 1st quarter. Wells Fargo & Company MN now owns 2,229,626 shares of the industrial products company’s stock worth $110,411,000 after buying an additional 9,677 shares in the last quarter. Finally, Jackson Square Partners LLC lifted its position in Graco by 7.3% during the 1st quarter. Jackson Square Partners LLC now owns 2,009,315 shares of the industrial products company’s stock worth $99,501,000 after buying an additional 136,470 shares in the last quarter. 84.25% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Timothy R. White sold 6,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $52.18, for a total transaction of $313,080.00. Following the completion of the sale, the insider now directly owns 50,660 shares of the company’s stock, valued at approximately $2,643,438.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Johnson sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $48.85, for a total value of $732,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,610 shares of company stock valued at $10,389,984. 4.23% of the stock is owned by company insiders.

Shares of GGG stock traded up $1.05 on Friday, reaching $51.05. The company had a trading volume of 405,837 shares, compared to its average volume of 536,491. The company has a current ratio of 2.07, a quick ratio of 1.23 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $8.33 billion, a PE ratio of 27.15, a PEG ratio of 2.18 and a beta of 0.98. The stock’s 50-day simple moving average is $49.60. Graco Inc. has a 12 month low of $37.36 and a 12 month high of $53.91.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, April 24th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Graco had a return on equity of 41.51% and a net margin of 20.72%. The business had revenue of $404.90 million for the quarter, compared to the consensus estimate of $415.70 million. During the same period in the previous year, the company posted $0.48 earnings per share. Graco’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that Graco Inc. will post 2 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Monday, July 22nd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.64 dividend on an annualized basis and a yield of 1.25%. Graco’s payout ratio is 34.04%.

Several analysts have weighed in on GGG shares. Zacks Investment Research raised Hudson Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, DA Davidson reissued a “buy” rating on shares of Great Western Bancorp in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Graco presently has an average rating of “Hold” and an average price target of $47.00.

Graco Company Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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