Graco Inc. (NYSE:GGG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Graco Inc. (NYSE:GGG) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,432 shares of the industrial products company’s stock after selling 5,759 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Graco worth $8,614,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GGG. Gradient Investments LLC purchased a new stake in Graco during the 2nd quarter worth about $27,000. New Covenant Trust Company N.A. purchased a new stake in Graco during the 1st quarter worth about $43,000. UMB Bank n.a. increased its position in Graco by 187.8% during the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 323 shares in the last quarter. Blue Trust Inc. increased its position in Graco by 220.9% during the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 475 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Graco during the 3rd quarter worth about $59,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Analyst Ratings Changes

GGG has been the subject of several recent analyst reports. Robert W. Baird lowered their price target on Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, October 25th. DA Davidson restated a “neutral” rating and issued a $79.00 price target on shares of Graco in a report on Friday, September 27th. Finally, Royal Bank of Canada lowered their price target on Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $89.25.

Graco Price Performance

NYSE GGG opened at $90.22 on Tuesday. The firm has a market capitalization of $15.23 billion, a P/E ratio of 31.88, a P/E/G ratio of 3.07 and a beta of 0.82. Graco Inc. has a 1-year low of $77.49 and a 1-year high of $94.77. The business’s 50-day simple moving average is $85.31 and its 200-day simple moving average is $82.55.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $519.21 million during the quarter, compared to analyst estimates of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, equities research analysts expect that Graco Inc. will post 2.91 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, October 21st. Graco’s dividend payout ratio is currently 36.04%.

Insider Buying and Selling

In related news, insider Peter J. O’shea sold 18,075 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $88.76, for a total transaction of $1,604,337.00. Following the transaction, the insider now directly owns 14,516 shares of the company’s stock, valued at approximately $1,288,440.16. The trade was a 55.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David J. Thompson sold 3,216 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total value of $284,004.96. Following the transaction, the insider now directly owns 27,246 shares in the company, valued at $2,406,094.26. This trade represents a 10.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by corporate insiders.

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.