Tyers Asset Management LLC Has $1.08 Million Position in Graco (GGG)

Tyers Asset Management LLC increased its position in Graco (NYSE:GGG) by 21.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,548 shares of the industrial products company’s stock after acquiring an additional 4,200 shares during the period. Tyers Asset Management LLC’s holdings in Graco were worth $1,077,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Graco by 213.0% in the 4th quarter. BlackRock Inc. now owns 14,002,690 shares of the industrial products company’s stock worth $633,202,000 after acquiring an additional 9,529,107 shares during the period. Atlanta Capital Management Co. L L C increased its stake in Graco by 171.7% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 3,907,999 shares of the industrial products company’s stock valued at $176,720,000 after buying an additional 2,469,513 shares during the period. Gamco Investors INC. ET AL increased its stake in Graco by 162.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,025,330 shares of the industrial products company’s stock valued at $136,805,000 after buying an additional 1,872,855 shares during the period. Bank of New York Mellon Corp increased its stake in Graco by 190.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,578,707 shares of the industrial products company’s stock valued at $116,609,000 after buying an additional 1,689,416 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Graco by 210.8% during the 4th quarter. Wells Fargo & Company MN now owns 2,063,783 shares of the industrial products company’s stock valued at $93,325,000 after buying an additional 1,399,844 shares during the period. 86.96% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. ValuEngine cut shares of Graco from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. DA Davidson assumed coverage on shares of Graco in a research note on Thursday, April 12th. They set a “neutral” rating and a $48.00 target price on the stock. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Saturday, February 3rd. SunTrust Banks reissued a “hold” rating and set a $45.00 target price on shares of Graco in a research note on Wednesday, January 31st. Finally, Deutsche Bank raised shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, January 23rd. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Graco has an average rating of “Hold” and a consensus target price of $47.30.

Shares of Graco opened at $46.27 on Friday, according to Marketbeat. The company has a market capitalization of $7.72 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 2.36 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.60 and a current ratio of 2.55. Graco has a 12-month low of $34.89 and a 12-month high of $49.69.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 25th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The company had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $369.61 million. Graco had a net margin of 17.99% and a return on equity of 41.12%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS. research analysts forecast that Graco will post 1.89 EPS for the current fiscal year.

In other news, insider Patrick J. Mchale sold 221,670 shares of Graco stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $45.13, for a total value of $10,003,967.10. Following the transaction, the insider now owns 453,931 shares of the company’s stock, valued at approximately $20,485,906.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Etchart sold 15,000 shares of Graco stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $43.83, for a total transaction of $657,450.00. The disclosure for this sale can be found here. Insiders sold a total of 278,295 shares of company stock worth $12,588,756 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

About Graco

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.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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