Trueblood Wealth Management LLC Cuts Position in Graco Inc. (NYSE:GGG)

Trueblood Wealth Management LLC lessened its stake in Graco Inc. (NYSE:GGG) by 9.1% in the first quarter, HoldingsChannel.com reports. The firm owned 3,138 shares of the industrial products company’s stock after selling 314 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Graco were worth $262,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in GGG. Golden State Wealth Management LLC acquired a new stake in Graco in the 4th quarter valued at about $25,000. TD Private Client Wealth LLC grew its stake in Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 190 shares during the last quarter. National Pension Service acquired a new stake in Graco in the 4th quarter valued at about $34,000. Whipplewood Advisors LLC acquired a new stake in Graco in the 4th quarter valued at about $37,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Graco in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Insider Transactions at Graco

In other news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the sale, the insider now directly owns 27,520 shares in the company, valued at $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.19% of the company’s stock.

Graco Trading Down 0.0%

Shares of NYSE GGG opened at $85.49 on Thursday. The stock has a market cap of $14.29 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 2.85 and a beta of 1.07. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The company’s 50-day moving average price is $82.16 and its 200 day moving average price is $84.27.

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

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.29%. Graco’s dividend payout ratio (DPR) is presently 38.87%.

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.