GSA Capital Partners LLP Takes $1.37 Million Position in Graco Inc. (NYSE:GGG)

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GSA Capital Partners LLP bought a new stake in Graco Inc. (NYSE:GGG) during the second quarter, HoldingsChannel.com reports. The fund bought 27,214 shares of the industrial products company’s stock, valued at approximately $1,366,000.

Several other hedge funds have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its holdings in shares of Graco by 0.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 30,560 shares of the industrial products company’s stock valued at $1,534,000 after purchasing an additional 220 shares during the period. ETF Managers Group LLC raised its holdings in Graco by 8.3% in the 1st quarter. ETF Managers Group LLC now owns 3,158 shares of the industrial products company’s stock valued at $156,000 after acquiring an additional 242 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Graco by 2.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,869 shares of the industrial products company’s stock valued at $545,000 after acquiring an additional 296 shares during the period. Stephens Inc. AR raised its holdings in Graco by 5.0% in the 2nd quarter. Stephens Inc. AR now owns 6,440 shares of the industrial products company’s stock valued at $323,000 after acquiring an additional 307 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in Graco by 3.5% in the 2nd quarter. Wedbush Securities Inc. now owns 9,578 shares of the industrial products company’s stock valued at $481,000 after acquiring an additional 321 shares during the period. 84.79% of the stock is currently owned by institutional investors.

In other news, insider Jeffrey P. Johnson sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $48.85, for a total transaction of $732,750.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.23% of the stock is owned by corporate insiders.

Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Graco from a “sell” rating to a “hold” rating and set a $49.00 price target on the stock in a report on Wednesday, May 29th. Robert W. Baird set a $50.00 price target on shares of Graco and gave the company a “hold” rating in a report on Friday, July 26th. Finally, ValuEngine cut shares of Graco from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $47.20.

Graco stock traded down $1.14 during trading hours on Friday, hitting $44.13. The company had a trading volume of 368,085 shares, compared to its average volume of 465,766. The firm has a market cap of $7.55 billion, a PE ratio of 23.47, a PEG ratio of 2.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.39. Graco Inc. has a one year low of $37.36 and a one year high of $53.91. The firm has a 50-day moving average of $48.19 and a 200 day moving average of $48.92.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). The company had revenue of $428.30 million during the quarter, compared to the consensus estimate of $444.93 million. Graco had a net margin of 20.61% and a return on equity of 39.22%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share. As a group, research analysts expect that Graco Inc. will post 1.91 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.64 annualized dividend and a yield of 1.45%. Graco’s dividend payout ratio is currently 34.04%.

Graco 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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