Graco Inc. (NYSE:GGG) Shares Sold by Nuance Investments LLC

Key Points

• Nuance Investments LLC has reduced its stake in Graco Inc. by 69.3%, now holding 102,794 shares worth approximately $8.58 million after selling 232,017 shares in the first quarter.
• Graco recently reported quarterly earnings of $0.75 per share, missing estimates by $0.03, with revenues of $571.81 million, below analyst expectations of $590.57 million.
• The company announced a quarterly dividend of $0.275 per share, translating to an annualized amount of $1.10 and a dividend yield of 1.3%.

Nuance Investments LLC reduced its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 69.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,794 shares of the industrial products company's stock after selling 232,017 shares during the period. Nuance Investments LLC owned 0.06% of Graco worth $8,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. increased its position in Graco by 149.5% during the first quarter. Bessemer Group Inc. now owns 4,992 shares of the industrial products company's stock worth $416,000 after purchasing an additional 2,991 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Graco by 13.8% during the first quarter. Asset Management One Co. Ltd. now owns 70,117 shares of the industrial products company's stock worth $5,855,000 after purchasing an additional 8,490 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Graco during the first quarter worth about $2,335,000. Farther Finance Advisors LLC increased its position in Graco by 150.6% during the first quarter. Farther Finance Advisors LLC now owns 7,998 shares of the industrial products company's stock worth $675,000 after purchasing an additional 4,806 shares during the last quarter. Finally, Novem Group increased its position in Graco by 34.5% during the first quarter. Novem Group now owns 11,900 shares of the industrial products company's stock worth $994,000 after purchasing an additional 3,052 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

Shares of GGG opened at $83.17 on Tuesday. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86. The stock has a market cap of $13.78 billion, a PE ratio of 29.49, a P/E/G ratio of 2.82 and a beta of 1.04. The firm has a 50-day simple moving average of $85.55 and a two-hundred day simple moving average of $84.08.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The company had revenue of $571.81 million for the quarter, compared to analyst estimates of $590.57 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. Graco's revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were issued a $0.275 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Graco's payout ratio is 39.01%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Wolfe Research initiated coverage on shares of Graco in a research report on Wednesday, June 18th. They set an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Graco currently has an average rating of "Moderate Buy" and a consensus target price of $94.50.

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.

Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.