Bennett Selby Investments LP Grows Stock Holdings in Graco Inc. (NYSE:GGG)

Bennett Selby Investments LP raised its stake in shares of Graco Inc. (NYSE:GGG) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,785 shares of the industrial products company’s stock after acquiring an additional 372 shares during the period. Graco makes up 1.2% of Bennett Selby Investments LP’s investment portfolio, making the stock its 20th biggest holding. Bennett Selby Investments LP’s holdings in Graco were worth $2,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Graco in the 4th quarter worth $177,434,000. Massachusetts Financial Services Co. MA lifted its position in Graco by 26,738.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,841,916 shares of the industrial products company’s stock valued at $155,255,000 after purchasing an additional 1,835,053 shares during the period. Northern Trust Corp boosted 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 valued at $162,676,000 after purchasing an additional 518,462 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Graco by 76.0% during 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 purchasing an additional 495,293 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in Graco by 48.1% during 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 purchasing an additional 486,277 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Graco news, insider David J. Thompson sold 3,588 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the sale, the insider now directly owns 27,520 shares in the company, valued at approximately $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.19% of the stock is owned by insiders.

Graco Price Performance

GGG opened at $85.05 on Friday. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86. The stock has a market capitalization of $14.21 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.85 and a beta of 1.07. The business has a 50 day simple moving average of $81.85 and a 200-day simple moving average of $84.33.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company 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 19.38% and a net margin of 23.00%. Graco’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. Research analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco 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.