Mountain Pacific Investment Advisers Inc. ID Takes $7.38 Million Position in Graco Inc. (GGG)

Mountain Pacific Investment Advisers Inc. ID bought a new position in Graco Inc. (NYSE:GGG) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 149,107 shares of the industrial products company’s stock, valued at approximately $7,384,000.

Several other institutional investors and hedge funds also recently modified their holdings of GGG. Oregon Public Employees Retirement Fund increased its stake in shares of Graco by 4,085.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,782,062 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 2,715,585 shares during the last quarter. Norges Bank acquired a new stake in shares of Graco in the 4th quarter worth $60,813,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Graco by 16.6% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,120,002 shares of the industrial products company’s stock worth $297,973,000 after acquiring an additional 1,011,052 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of Graco by 987.8% in the 4th quarter. WINTON GROUP Ltd now owns 294,207 shares of the industrial products company’s stock worth $12,313,000 after acquiring an additional 267,162 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Graco by 31.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,115,996 shares of the industrial products company’s stock worth $51,715,000 after acquiring an additional 265,581 shares during the last quarter. 85.06% of the stock is owned by institutional investors and hedge funds.

GGG stock opened at $48.26 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.23 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 2.14 and a beta of 0.97. Graco Inc. has a 1 year low of $37.36 and a 1 year high of $53.91.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company 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%. Graco’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. Equities analysts forecast that Graco Inc. will post 2 EPS for the current fiscal year.

A number of analysts have issued reports on GGG shares. ValuEngine raised Graco from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Royal Bank of Canada reiterated a “hold” rating and set a $46.00 price target on shares of Graco in a report on Wednesday, January 30th. Jefferies Financial Group assumed coverage on Graco in a report on Friday, January 25th. They set a “hold” rating and a $46.00 target price for the company. Seaport Global Securities restated a “hold” rating on shares of Graco in a report on Wednesday, January 30th. Finally, DA Davidson restated a “neutral” rating on shares of Graco in a report on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating, Graco currently has a consensus rating of “Hold” and a consensus target price of $46.20.

In other Graco news, insider Timothy R. White sold 6,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $52.18, for a total value of $313,080.00. Following the sale, the insider now owns 50,660 shares of the company’s stock, valued at approximately $2,643,438.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick J. Mchale sold 182,610 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $51.17, for a total value of $9,344,153.70. Following the completion of the sale, the chief executive officer now directly owns 238,392 shares in the company, valued at approximately $12,198,518.64. The disclosure for this sale can be found here. Insiders sold a total of 504,248 shares of company stock worth $24,685,631 in the last ninety days. 4.23% of the stock is owned by corporate insiders.

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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 worldwide. The company's Industrial segment offers proportioning systems 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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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