Oppenheimer Asset Management Inc. Lowers Position in Graco Inc. (GGG)

Oppenheimer Asset Management Inc. lowered its stake in Graco Inc. (NYSE:GGG) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,789 shares of the industrial products company’s stock after selling 156 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Graco were worth $960,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Advisors Asset Management Inc. grew its holdings in Graco by 106.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 578 shares during the period. TLP Group LLC acquired a new stake in Graco during the 1st quarter worth $193,000. Canada Pension Plan Investment Board grew its holdings in Graco by 425.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 1,700 shares during the period. Mosaic Family Wealth LLC grew its holdings in Graco by 5.1% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 91 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Graco during the 1st quarter worth $206,000. 86.85% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. BidaskClub lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Wolfe Research reaffirmed a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Graco in a report on Friday, July 28th. Finally, FBR & Co reaffirmed a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Graco presently has an average rating of “Hold” and an average target price of $106.20.

In other news, VP Karen Park Gallivan sold 12,242 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the completion of the sale, the vice president now directly owns 27,264 shares in the company, valued at $3,135,360. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David M. Lowe sold 30,000 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the sale, the insider now owns 164,809 shares of the company’s stock, valued at $19,035,439.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,242 shares of company stock valued at $4,873,050. 5.70% of the stock is currently owned by corporate insiders.

Graco Inc. (GGG) opened at 116.59 on Tuesday. The company has a market capitalization of $6.53 billion, a PE ratio of 73.98 and a beta of 1.24. The stock’s 50 day moving average is $113.58 and its 200-day moving average is $105.92. Graco Inc. has a 12 month low of $69.33 and a 12 month high of $117.97.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The company had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. During the same period in the prior year, the company posted $0.89 earnings per share. Graco’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts expect that Graco Inc. will post $4.53 EPS for the current year.

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Graco Company Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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