Graco Inc. (NYSE:GGG) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 683,220 shares of the industrial products company's stock after selling 22,207 shares during the period. Confluence Investment Management LLC owned approximately 0.41% of Graco worth $57,056,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GGG. California State Teachers Retirement System grew its holdings in Graco by 4.0% during the fourth quarter. California State Teachers Retirement System now owns 285,706 shares of the industrial products company's stock worth $24,082,000 after acquiring an additional 10,887 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Graco by 53.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 95,253 shares of the industrial products company's stock worth $8,029,000 after purchasing an additional 33,015 shares during the period. Wood Tarver Financial Group LLC purchased a new position in shares of Graco during the 4th quarter valued at approximately $46,000. Siemens Fonds Invest GmbH purchased a new position in shares of Graco during the 4th quarter valued at approximately $216,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Graco in the 4th quarter valued at $13,853,000. Hedge funds and other institutional investors own 93.88% of the company's stock.

Insiders Place Their Bets

In related news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total value of $309,393.24. Following the sale, the insider now owns 27,520 shares of the company's stock, valued at approximately $2,373,049.60. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.19% of the stock is currently owned by company insiders.

Graco Stock Performance

NYSE GGG traded down $1.57 during mid-day trading on Monday, reaching $83.09. 191,782 shares of the stock were exchanged, compared to its average volume of 815,618. The company has a market capitalization of $13.89 billion, a P/E ratio of 29.49, a P/E/G ratio of 2.85 and a beta of 1.09. The business's 50 day moving average is $81.83 and its 200-day moving average is $84.47. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86.

Graco (NYSE:GGG - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $526.98 million. During the same period in the prior year, the company posted $0.65 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

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.