MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Holdings in Graco Inc. $GGG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Graco Inc. by 3.8%, resulting in ownership of 1,121,513 shares worth approximately $93.7 million.
• Other institutional investors, such as Bessemer Group and Farther Finance Advisors, have notably increased their holdings in Graco, with Bessemer Group raising its stake by 149.5%.
• Graco's latest earnings report showed an EPS of $0.75, missing the expected $0.78, with revenue of $571.81 million falling short of expectations of $590.57 million.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,121,513 shares of the industrial products company's stock after selling 44,757 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.67% of Graco worth $93,657,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in Graco by 149.5% during the first quarter. Bessemer Group Inc. now owns 4,992 shares of the industrial products company's stock valued at $416,000 after purchasing an additional 2,991 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings 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 valued at $5,855,000 after purchasing an additional 8,490 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Graco during the first quarter valued at $2,335,000. Farther Finance Advisors LLC lifted its holdings 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 valued at $675,000 after purchasing an additional 4,806 shares in the last quarter. Finally, Novem Group lifted its holdings in Graco by 34.5% during the first quarter. Novem Group now owns 11,900 shares of the industrial products company's stock valued at $994,000 after purchasing an additional 3,052 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Price Performance

Shares of GGG stock opened at $85.77 on Friday. The firm's 50-day moving average is $85.88 and its two-hundred day moving average is $84.20. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86. The company has a market capitalization of $14.21 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GGG shares. Robert W. Baird increased their price objective on shares of Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Wolfe Research started coverage on shares of Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $94.50.

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.

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