JLB & Associates Inc. Cuts Position in Graco Inc. (NYSE:GGG)

JLB & Associates Inc. lessened its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 1.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 215,911 shares of the industrial products company's stock after selling 3,546 shares during the period. Graco accounts for about 2.5% of JLB & Associates Inc.'s investment portfolio, making the stock its 16th biggest holding. JLB & Associates Inc. owned approximately 0.13% of Graco worth $18,031,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GGG. Vontobel Holding Ltd. boosted its stake in shares of Graco by 10.2% in the fourth quarter. Vontobel Holding Ltd. now owns 2,772 shares of the industrial products company's stock worth $234,000 after acquiring an additional 257 shares during the period. Rhumbline Advisers raised its holdings in shares of Graco by 0.9% in the fourth quarter. Rhumbline Advisers now owns 528,530 shares of the industrial products company's stock worth $44,550,000 after buying an additional 4,576 shares during the period. Montag A & Associates Inc. raised its holdings in shares of Graco by 6.1% in the fourth quarter. Montag A & Associates Inc. now owns 19,814 shares of the industrial products company's stock worth $1,670,000 after buying an additional 1,140 shares during the period. Principal Securities Inc. increased its holdings in Graco by 23.3% during the 4th quarter. Principal Securities Inc. now owns 1,007 shares of the industrial products company's stock worth $85,000 after purchasing an additional 190 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in Graco during the 4th quarter worth $3,813,000. Institutional investors own 93.88% of the company's stock.

Graco Trading Up 1.2%

Shares of NYSE:GGG traded up $0.99 on Thursday, reaching $84.59. The company had a trading volume of 850,744 shares, compared to its average volume of 809,072. The firm has a market capitalization of $14.14 billion, a PE ratio of 29.89, a PEG ratio of 2.86 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 firm's 50 day simple moving average is $83.12 and its 200-day simple moving average is $84.00.

Graco (NYSE:GGG - Get Free Report) 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. Graco had a return on equity of 19.42% and a net margin of 22.70%. The company had revenue of $528.28 million during the quarter, compared to analysts' expectations of $526.98 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict 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. Shareholders of record on Monday, July 21st will be given 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 yield of 1.30%. Graco's dividend payout ratio is currently 38.87%.

Insider Buying and Selling at Graco

In other Graco news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the transaction, the insider now owns 27,520 shares in the company, valued at approximately $2,373,049.60. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.19% of the company's stock.

Analysts Set New Price Targets

Separately, Wolfe Research began coverage on Graco in a report on Wednesday. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

Graco Company 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.