Mutual of America Capital Management LLC Has $8.14 Million Holdings in Graco Inc. (NYSE:GGG)

Mutual of America Capital Management LLC cut its holdings in Graco Inc. (NYSE:GGG - Free Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,482 shares of the industrial products company's stock after selling 3,149 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of Graco worth $8,141,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GGG. Norges Bank acquired a new stake in Graco in the fourth quarter valued at about $177,434,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Graco by 26,738.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,841,916 shares of the industrial products company's stock valued at $155,255,000 after purchasing an additional 1,835,053 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Graco by 36.7% during the fourth quarter. Northern Trust Corp now owns 1,929,952 shares of the industrial products company's stock valued at $162,676,000 after purchasing an additional 518,462 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Graco by 76.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,147,341 shares of the industrial products company's stock valued at $96,709,000 after purchasing an additional 495,293 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of Graco by 48.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,497,164 shares of the industrial products company's stock valued at $126,196,000 after purchasing an additional 486,277 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider David J. Thompson sold 3,588 shares of the firm's 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 directly owned 27,520 shares in the company, valued at $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.19% of the stock is owned by company insiders.

Graco Trading Down 1.3%

Shares of GGG stock opened at $87.64 on Monday. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.97 and a beta of 1.06. The business's 50-day moving average price is $85.38 and its 200-day moving average price is $83.92.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (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 the consensus estimate of $526.98 million. During the same period last year, the company earned $0.65 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st will be given a dividend of $0.275 per share. The ex-dividend date is Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.26%. Graco's dividend payout ratio (DPR) is 38.87%.

Analyst Upgrades and Downgrades

Separately, Wolfe Research initiated coverage on Graco in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

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.

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