New York State Common Retirement Fund Decreases Stock Position in Graco Inc. (NYSE:GGG)

New York State Common Retirement Fund lessened its stake in shares of Graco Inc. (NYSE:GGG) by 8.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 531,545 shares of the industrial products company’s stock after selling 48,600 shares during the quarter. New York State Common Retirement Fund’s holdings in Graco were worth $38,069,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in Graco during the 1st quarter valued at $210,000. GW&K Investment Management LLC increased its stake in Graco by 13.4% in the first quarter. GW&K Investment Management LLC now owns 623,937 shares of the industrial products company’s stock worth $44,687,000 after purchasing an additional 73,717 shares during the period. Vontobel Holding Ltd. purchased a new stake in Graco in the first quarter worth $1,749,000. Vestmark Advisory Solutions Inc. increased its stake in Graco by 831.5% in the first quarter. Vestmark Advisory Solutions Inc. now owns 30,189 shares of the industrial products company’s stock worth $2,162,000 after purchasing an additional 26,948 shares during the period. Finally, Certified Advisory Corp purchased a new stake in Graco in the first quarter worth $30,000. Institutional investors own 84.19% of the company’s stock.

In related news, insider Christian E. Rothe sold 59,340 shares of the firm’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $70.00, for a total transaction of $4,153,800.00. Following the sale, the insider now owns 51,728 shares of the company’s stock, valued at $3,620,960. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric Etchart sold 5,100 shares of the firm’s stock in a transaction dated Thursday, April 22nd. The shares were sold at an average price of $77.20, for a total value of $393,720.00. In the last 90 days, insiders have sold 101,737 shares of company stock worth $7,420,714. Insiders own 3.63% of the company’s stock.

A number of analysts have weighed in on the company. Royal Bank of Canada increased their target price on Graco from $81.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, April 23rd. Morgan Stanley increased their target price on Graco from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, April 23rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Graco currently has an average rating of “Buy” and an average price target of $76.00.

Shares of Graco stock opened at $73.48 on Friday. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 3.78 and a beta of 0.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.52 and a current ratio of 3.48. Graco Inc. has a 12 month low of $45.48 and a 12 month high of $79.37. The company’s fifty day moving average price is $75.51.

Graco (NYSE:GGG) last announced its quarterly earnings results on Tuesday, April 20th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. The firm had revenue of $454.10 million for the quarter, compared to analyst estimates of $426.13 million. Graco had a return on equity of 30.60% and a net margin of 20.99%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, research analysts forecast that Graco Inc. will post 2.47 earnings per share for the current year.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; 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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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