Voloridge Investment Management LLC Has $35.99 Million Stock Holdings in Graco Inc. (NYSE:GGG)

Voloridge Investment Management LLC trimmed its holdings in Graco Inc. (NYSE:GGG - Free Report) by 22.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 426,916 shares of the industrial products company's stock after selling 124,494 shares during the quarter. Voloridge Investment Management LLC owned 0.25% of Graco worth $35,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its stake in Graco by 32.0% during the fourth quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company's stock valued at $130,298,000 after buying an additional 374,967 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in Graco by 2.7% in the fourth quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company's stock worth $244,836,000 after buying an additional 76,184 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Graco by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company's stock valued at $88,923,000 after purchasing an additional 19,545 shares during the last quarter. Whittier Trust Co. grew its holdings in Graco by 3.4% during the fourth quarter. Whittier Trust Co. now owns 184,103 shares of the industrial products company's stock valued at $15,518,000 after purchasing an additional 6,041 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Graco by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company's stock valued at $1,444,864,000 after purchasing an additional 183,335 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

Shares of GGG traded up $0.88 during mid-day trading on Tuesday, hitting $84.52. The company's stock had a trading volume of 181,454 shares, compared to its average volume of 819,400. Graco Inc. has a one year low of $72.06 and a one year high of $92.86. The firm has a market capitalization of $14.13 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The stock's 50-day moving average is $81.74 and its two-hundred day moving average is $84.59.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $528.28 million during the quarter, compared to analysts' expectations of $526.98 million. Graco had a return on equity of 19.38% and a net margin of 23.00%. Graco's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $0.65 earnings per share. Analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David J. Thompson sold 3,588 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the transaction, the insider now directly owns 27,520 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, DA Davidson set a $85.00 price objective on Graco in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Graco presently has an average rating of "Hold" and a consensus price target of $93.00.

Graco 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.