New York State Common Retirement Fund Sells 48,600 Shares of Graco Inc. (NYSE:GGG)

New York State Common Retirement Fund lowered its stake in Graco Inc. (NYSE:GGG) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 531,545 shares of the industrial products company’s stock after selling 48,600 shares during the period. New York State Common Retirement Fund owned 0.31% of Graco worth $38,069,000 at the end of the most recent reporting period.

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

In other Graco news, insider Christian E. Rothe sold 59,340 shares of the business’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $70.00, for a total value of $4,153,800.00. Following the completion of the transaction, the insider now owns 51,728 shares of the company’s stock, valued at approximately $3,620,960. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dale D. Johnson sold 19,297 shares of the business’s stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $77.05, for a total value of $1,486,833.85. Following the completion of the transaction, the insider now directly owns 194,105 shares of the company’s stock, valued at approximately $14,955,790.25. The disclosure for this sale can be found here. In the last three months, insiders sold 101,737 shares of company stock valued at $7,420,714. 3.63% of the stock is owned by insiders.

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Graco from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, April 23rd. Royal Bank of Canada upped their price target on shares of Graco from $81.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, April 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $76.00.

Shares of Graco stock opened at $73.48 on Friday. The company has a market cap of $12.45 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 3.78 and a beta of 0.59. The stock has a 50-day moving average price of $75.51. Graco Inc. has a 1 year low of $45.48 and a 1 year high of $79.37. The company has a current ratio of 3.48, a quick ratio of 2.52 and a debt-to-equity ratio of 0.11.

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