Rhumbline Advisers Sells 135 Shares of Graco Inc. (NYSE:GGG)

Rhumbline Advisers reduced its stake in Graco Inc. (NYSE:GGG) by 0.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 528,395 shares of the industrial products company’s stock after selling 135 shares during the period. Rhumbline Advisers owned about 0.32% of Graco worth $44,126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Graco in the fourth quarter worth about $177,434,000. Massachusetts Financial Services Co. MA lifted its holdings in Graco by 26,738.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,841,916 shares of the industrial products company’s stock worth $155,255,000 after buying an additional 1,835,053 shares during the period. Northern Trust Corp lifted its holdings in Graco by 36.7% in the 4th quarter. Northern Trust Corp now owns 1,929,952 shares of the industrial products company’s stock worth $162,676,000 after buying an additional 518,462 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Graco by 76.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,147,341 shares of the industrial products company’s stock worth $96,709,000 after buying an additional 495,293 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Graco by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,497,164 shares of the industrial products company’s stock worth $126,196,000 after buying an additional 486,277 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Stock Up 0.8%

Shares of Graco stock opened at $84.44 on Wednesday. The business has a 50 day moving average of $81.81 and a 200 day moving average of $84.43. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The company has a market cap of $14.11 billion, a PE ratio of 29.94, a P/E/G ratio of 2.85 and a beta of 1.09.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Graco had a net margin of 23.00% and a return on equity of 19.38%. The business had revenue of $528.28 million for the quarter, compared to the consensus estimate of $526.98 million. During the same period in the previous year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Insider Activity

In other news, insider David J. Thompson sold 3,588 shares of the stock in a transaction that occurred 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 now owns 27,520 shares of the company’s stock, 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 the SEC website. 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.