Tran Capital Management L.P. Sells 975 Shares of Graco Inc. (NYSE:GGG)

Tran Capital Management L.P. decreased its position in Graco Inc. (NYSE:GGG) by 3.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 26,819 shares of the industrial products company’s stock after selling 975 shares during the period. Tran Capital Management L.P.’s holdings in Graco were worth $2,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of GGG. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Graco by 12.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,747 shares of the industrial products company’s stock valued at $314,000 after buying an additional 412 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Graco by 3.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 339,524 shares of the industrial products company’s stock worth $28,618,000 after acquiring an additional 11,218 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Graco in the 4th quarter valued at about $25,000. Apollon Wealth Management LLC raised its stake in Graco by 7.7% in the 4th quarter. Apollon Wealth Management LLC now owns 12,279 shares of the industrial products company’s stock valued at $1,035,000 after acquiring an additional 878 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in Graco by 8.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,178 shares of the industrial products company’s stock valued at $521,000 after purchasing an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Down 0.0%

Shares of NYSE:GGG opened at $85.49 on Thursday. The firm has a market capitalization of $14.29 billion, a PE ratio of 30.31, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a 50-day moving average price of $82.16 and a two-hundred day moving average price of $84.27. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86.

Graco (NYSE:GGG) last issued its earnings results 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. The business had revenue of $528.28 million for the quarter, compared to analysts’ expectations of $526.98 million. Graco had a net margin of 23.00% and a return on equity of 19.38%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. Analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 21st will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.29%. Graco’s payout ratio is 38.87%.

Insider Activity at Graco

In other Graco news, insider David J. Thompson sold 3,588 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,373,049.60. This trade represents a 11.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is currently owned by corporate insiders.

About Graco

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.