Graco Inc. (GGG) Position Reduced by JLB & Associates Inc.

JLB & Associates Inc. lowered its position in Graco Inc. (NYSE:GGG) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 296,841 shares of the industrial products company’s stock after selling 1,383 shares during the period. Graco makes up about 3.1% of JLB & Associates Inc.’s portfolio, making the stock its 6th largest position. JLB & Associates Inc. owned approximately 0.18% of Graco worth $14,699,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc acquired a new stake in Graco during the 4th quarter valued at approximately $25,000. JOYN Advisors Inc. grew its holdings in shares of Graco by 222.4% during the fourth quarter. JOYN Advisors Inc. now owns 690 shares of the industrial products company’s stock worth $29,000 after buying an additional 476 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Graco during the fourth quarter worth $49,000. Intercontinental Wealth Advisors LLC purchased a new stake in shares of Graco during the fourth quarter worth $61,000. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Graco by 4,085.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,782,062 shares of the industrial products company’s stock worth $66,000 after buying an additional 2,715,585 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

NYSE:GGG traded up $0.21 during mid-day trading on Friday, hitting $47.96. The stock had a trading volume of 321,690 shares, compared to its average volume of 574,332. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97. Graco Inc. has a twelve month low of $37.36 and a twelve month high of $53.91. The company has a quick ratio of 1.23, a current ratio of 2.07 and a debt-to-equity ratio of 0.21.

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

A number of research firms have recently issued reports on GGG. Zacks Investment Research lowered shares of Graco from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. DA Davidson reissued a “neutral” rating on shares of Graco in a report on Thursday, April 25th. Seaport Global Securities reissued a “hold” rating on shares of Graco in a report on Wednesday, January 30th. Jefferies Financial Group began coverage on shares of Graco in a research report on Friday, January 25th. They issued a “hold” rating and a $46.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $46.00 target price on shares of Graco in a research report on Wednesday, January 30th. Eight research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $46.20.

In other news, insider Jeffrey P. Johnson sold 33,038 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $47.20, for a total transaction of $1,559,393.60. Following the transaction, the insider now directly owns 76,475 shares in the company, valued at $3,609,620. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Sheahan sold 54,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $47.17, for a total transaction of $2,547,180.00. Following the transaction, the chief financial officer now owns 113,410 shares in the company, valued at $5,349,549.70. The disclosure for this sale can be found here. Insiders sold 482,948 shares of company stock worth $23,695,607 over the last quarter. 4.23% of the stock is currently owned by insiders.

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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.

Further Reading: Buy-Side Analysts

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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