Graco Inc. (GGG) Shares Sold by Fenimore Asset Management Inc.

Fenimore Asset Management Inc. lowered its holdings in shares of Graco Inc. (NYSE:GGG) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 944,321 shares of the industrial products company’s stock after selling 5,260 shares during the quarter. Graco makes up 1.5% of Fenimore Asset Management Inc.’s portfolio, making the stock its 26th biggest holding. Fenimore Asset Management Inc. owned approximately 0.56% of Graco worth $43,760,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its position in shares of Graco by 727.8% during the second quarter. Signaturefd LLC now owns 2,235 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 1,965 shares in the last quarter. Fort L.P. purchased a new stake in shares of Graco during the second quarter worth about $119,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Graco during the second quarter worth about $162,000. Meeder Asset Management Inc. grew its position in shares of Graco by 51.9% during the second quarter. Meeder Asset Management Inc. now owns 4,086 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 1,396 shares in the last quarter. Finally, HRT Financial LLC purchased a new stake in shares of Graco during the second quarter worth about $210,000. Hedge funds and other institutional investors own 85.68% of the company’s stock.

Several research firms recently issued reports on GGG. Zacks Investment Research cut Graco from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Oppenheimer reissued a “hold” rating on shares of Graco in a research note on Thursday, July 26th. Royal Bank of Canada reissued a “hold” rating and set a $49.00 price target on shares of Graco in a research note on Friday, July 27th. DA Davidson set a $49.00 price target on Graco and gave the company a “hold” rating in a research note on Monday, August 20th. Finally, ValuEngine lowered Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Graco currently has a consensus rating of “Hold” and an average price target of $49.17.

In other news, Director Jack W. Eugster sold 32,297 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $46.66, for a total value of $1,506,978.02. Following the completion of the sale, the director now directly owns 103,251 shares of the company’s stock, valued at approximately $4,817,691.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Caroline M. Chambers sold 97,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $47.10, for a total value of $4,592,250.00. Following the completion of the sale, the insider now directly owns 119,092 shares of the company’s stock, valued at $5,609,233.20. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.

Graco stock traded down $0.39 during midday trading on Thursday, reaching $40.00. 18,727 shares of the stock traded hands, compared to its average volume of 681,657. Graco Inc. has a 12 month low of $39.26 and a 12 month high of $49.69. The firm has a market cap of $7.75 billion, a PE ratio of 28.05, a PEG ratio of 2.91 and a beta of 1.09. The company has a current ratio of 2.65, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Graco had a net margin of 18.07% and a return on equity of 40.67%. The firm had revenue of $424.60 million for the quarter, compared to the consensus estimate of $421.19 million. During the same period in the previous year, the company posted $1.38 earnings per share. Graco’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Graco Inc. will post 1.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Monday, October 22nd will be paid a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, October 19th. Graco’s payout ratio is presently 37.06%.

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. 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.

Further Reading: Ex-Dividend

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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