Graco Inc. (NYSE:GGG) Shares Sold by Fiera Capital Corp

Fiera Capital Corp lowered its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,141,776 shares of the industrial products company's stock after selling 105,247 shares during the quarter. Graco accounts for 1.6% of Fiera Capital Corp's portfolio, making the stock its 19th biggest holding. Fiera Capital Corp owned about 3.64% of Graco worth $537,467,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. PineStone Asset Management Inc. lifted its position in shares of Graco by 134.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company's stock worth $330,532,000 after purchasing an additional 2,390,602 shares during the period. Principal Financial Group Inc. boosted its position in Graco by 244.4% during the third quarter. Principal Financial Group Inc. now owns 1,990,742 shares of the industrial products company's stock valued at $174,210,000 after purchasing an additional 1,412,704 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Graco by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company's stock valued at $137,361,000 after purchasing an additional 91,794 shares during the last quarter. TD Asset Management Inc raised its holdings in Graco by 14.5% in the first quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company's stock worth $134,618,000 after purchasing an additional 182,470 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Graco by 32.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,069,292 shares of the industrial products company's stock valued at $84,775,000 after buying an additional 259,819 shares during the last quarter. Institutional investors own 93.88% of the company's stock.

Insider Buying and Selling at Graco

In related news, insider David J. Thompson sold 3,216 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $88.31, for a total transaction of $284,004.96. Following the transaction, the insider now directly owns 27,246 shares in the company, valued at approximately $2,406,094.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.63% of the stock is currently owned by insiders.

Graco Price Performance

Graco stock traded up $0.24 during trading hours on Friday, hitting $87.80. 473,620 shares of the stock traded hands, compared to its average volume of 731,081. Graco Inc. has a 1 year low of $76.28 and a 1 year high of $94.77. The firm's 50 day moving average price is $84.29 and its 200-day moving average price is $82.33. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 2.85 and a beta of 0.82.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.05). The company had revenue of $519.21 million during the quarter, compared to analyst estimates of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. The company's revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. Research analysts forecast that Graco Inc. will post 2.92 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Monday, October 21st. Graco's dividend payout ratio is presently 36.04%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GGG. Robert W. Baird cut their price objective on shares of Graco from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada decreased their price objective on Graco from $96.00 to $93.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Finally, DA Davidson restated a "neutral" rating and set a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Graco presently has an average rating of "Hold" and a consensus price target of $89.25.

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.