Cambridge Investment Research Advisors Inc. Sells 1,927 Shares of Graco Inc. (NYSE:GGG)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Graco Inc. (NYSE:GGG) by 14.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,345 shares of the industrial products company’s stock after selling 1,927 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Graco were worth $947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Orion Portfolio Solutions LLC lifted its position in Graco by 1.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company’s stock worth $1,226,000 after acquiring an additional 138 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Graco by 118.0% during the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 190 shares during the last quarter. Carlson Capital Management lifted its holdings in Graco by 0.8% during the 4th quarter. Carlson Capital Management now owns 26,699 shares of the industrial products company’s stock worth $2,250,000 after purchasing an additional 200 shares during the last quarter. Optas LLC boosted its stake in Graco by 6.0% in the 1st quarter. Optas LLC now owns 3,560 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 200 shares during the period. Finally, Simplicity Wealth LLC grew its holdings in Graco by 2.6% in the 4th quarter. Simplicity Wealth LLC now owns 10,013 shares of the industrial products company’s stock valued at $844,000 after buying an additional 258 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Trading Up 0.3%

Shares of GGG stock opened at $88.79 on Friday. The stock has a market cap of $14.84 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 3.00 and a beta of 1.06. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The stock has a 50 day simple moving average of $84.75 and a 200 day simple moving average of $83.81.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $528.28 million during the quarter, compared to the consensus estimate of $526.98 million. Graco had a return on equity of 19.42% and a net margin of 22.70%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Analysts forecast that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st will be given a $0.275 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a yield of 1.24%. Graco’s dividend payout ratio is currently 38.87%.

Analysts Set New Price Targets

Separately, Wolfe Research started coverage on shares of Graco in a research report on Wednesday, June 18th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Insider Buying and Selling at Graco

In other news, insider David J. Thompson sold 3,588 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the transaction, the insider directly owned 27,520 shares in the company, valued at approximately $2,373,049.60. This represents a 11.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.19% of the company’s stock.

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 Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.