Voloridge Investment Management LLC Sells 124,494 Shares of Graco Inc. (NYSE:GGG)

Voloridge Investment Management LLC cut its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 22.6% during 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 about 0.25% of Graco worth $35,985,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GGG. Allianz Asset Management GmbH increased its holdings in shares of Graco by 32.0% in 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 purchasing an additional 374,967 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in shares of Graco by 2.7% during the 4th 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 period. Charles Schwab Investment Management Inc. grew its stake in Graco by 1.9% in the 4th 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 buying an additional 19,545 shares during the last quarter. Whittier Trust Co. raised its holdings in Graco by 3.4% in the 4th quarter. Whittier Trust Co. now owns 184,103 shares of the industrial products company's stock valued at $15,518,000 after acquiring an additional 6,041 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Graco by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company's stock valued at $1,444,864,000 after acquiring an additional 183,335 shares during the period. Institutional investors own 93.88% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $85.00 price objective on Graco in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $93.00.

Graco Stock Performance

Shares of GGG stock traded down $0.89 on Friday, hitting $83.63. The company's stock had a trading volume of 459,093 shares, compared to its average volume of 821,882. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The company has a market capitalization of $13.98 billion, a PE ratio of 29.66, a PEG ratio of 2.85 and a beta of 1.09. The stock's 50 day moving average is $81.73 and its 200-day moving average is $84.63.

Graco (NYSE:GGG - Get Free Report) last announced 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. Graco had a net margin of 23.00% and a return on equity of 19.38%. The company had revenue of $528.28 million for the quarter, compared to analysts' expectations of $526.98 million. During the same period last year, the firm earned $0.65 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts forecast that Graco Inc. will post 3.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David J. Thompson sold 3,588 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the sale, the insider now directly owns 27,520 shares of the company's stock, valued at approximately $2,373,049.60. This represents a 11.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.19% of the company's stock.

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.