Amalgamated Bank Has $8.90 Million Stake in Graco Inc. (NYSE:GGG)

Amalgamated Bank trimmed its stake in Graco Inc. (NYSE:GGGGet Rating) by 1.1% in the first quarter, HoldingsChannel.com reports. The firm owned 127,669 shares of the industrial products company’s stock after selling 1,469 shares during the period. Amalgamated Bank’s holdings in Graco were worth $8,901,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GGG. Loomis Sayles & Co. L P acquired a new stake in Graco during the 1st quarter worth about $24,447,000. State Street Corp grew its holdings in Graco by 5.9% during the 1st quarter. State Street Corp now owns 6,002,722 shares of the industrial products company’s stock worth $418,510,000 after acquiring an additional 331,804 shares during the period. Schroder Investment Management Group grew its holdings in Graco by 372.4% during the 4th quarter. Schroder Investment Management Group now owns 300,802 shares of the industrial products company’s stock worth $24,251,000 after acquiring an additional 237,124 shares during the period. Nuance Investments LLC acquired a new stake in Graco during the 1st quarter worth about $15,127,000. Finally, TD Asset Management Inc. grew its holdings in Graco by 78.6% during the 1st quarter. TD Asset Management Inc. now owns 457,508 shares of the industrial products company’s stock worth $31,897,000 after acquiring an additional 201,335 shares during the period. 86.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GGG. Robert W. Baird downgraded Graco from an “outperform” rating to a “neutral” rating and set a $61.00 price target for the company. in a report on Thursday, July 14th. Morgan Stanley cut their price objective on shares of Graco from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 9th. Finally, DA Davidson cut their price objective on shares of Graco to $70.00 in a research report on Tuesday, August 9th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Graco presently has a consensus rating of “Hold” and an average target price of $71.00.

Graco Price Performance

Graco stock opened at $61.97 on Friday. Graco Inc. has a 52 week low of $56.48 and a 52 week high of $81.09. The company’s 50 day moving average price is $65.10 and its two-hundred day moving average price is $64.57. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.04. The stock has a market cap of $10.48 billion, a P/E ratio of 24.40, a P/E/G ratio of 3.09 and a beta of 0.78.

Graco (NYSE:GGGGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. Graco had a net margin of 21.38% and a return on equity of 25.73%. The company had revenue of $548.55 million during the quarter, compared to analyst estimates of $533.49 million. During the same quarter last year, the business posted $0.62 EPS. Graco’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts predict that Graco Inc. will post 2.59 earnings per share for the current year.

Insider Transactions at Graco

In related news, EVP David M. Ahlers sold 44,949 shares of Graco stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $70.77, for a total value of $3,181,040.73. Following the completion of the transaction, the executive vice president now directly owns 65,135 shares in the company, valued at approximately $4,609,603.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Eric Etchart sold 6,000 shares of Graco stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $67.20, for a total value of $403,200.00. Following the completion of the transaction, the director now directly owns 31,403 shares in the company, valued at approximately $2,110,281.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David M. Ahlers sold 44,949 shares of Graco stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $70.77, for a total transaction of $3,181,040.73. Following the completion of the transaction, the executive vice president now owns 65,135 shares of the company’s stock, valued at $4,609,603.95. The disclosure for this sale can be found here. 3.52% of the stock is currently owned by company insiders.

Graco Company Profile

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Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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