Profund Advisors LLC Sells 1,772 Shares of Graco Inc. (NYSE:GGG)

Profund Advisors LLC cut its holdings in shares of Graco Inc. (NYSE:GGG) by 26.5% during the second quarter, Holdings Channel reports. The fund owned 4,907 shares of the industrial products company’s stock after selling 1,772 shares during the period. Profund Advisors LLC’s holdings in Graco were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC lifted its position in Graco by 5.5% during the 2nd quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock worth $183,000 after buying an additional 120 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Graco by 7.1% during the second quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 134 shares during the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Graco by 8.8% in the second quarter. iA Global Asset Management Inc. now owns 1,687 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 136 shares in the last quarter. Park Avenue Securities LLC raised its position in Graco by 1.9% in the 1st quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock worth $700,000 after purchasing an additional 139 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Graco by 6.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock worth $190,000 after buying an additional 141 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Trading Up 2.3 %

NYSE GGG opened at $86.81 on Friday. Graco Inc. has a 12 month low of $69.78 and a 12 month high of $94.77. The stock has a 50-day simple moving average of $82.24 and a 200 day simple moving average of $83.81. The company has a market capitalization of $14.68 billion, a PE ratio of 29.93, a P/E/G ratio of 2.88 and a beta of 0.81.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Graco had a return on equity of 22.40% and a net margin of 23.16%. The company had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $562.27 million. During the same period in the prior year, the business posted $0.75 EPS. Graco’s revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Graco Inc. will post 2.98 earnings per share for the current fiscal year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be given a dividend of $0.255 per share. The ex-dividend date is Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.17%. Graco’s dividend payout ratio is 35.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GGG shares. StockNews.com downgraded Graco from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Royal Bank of Canada dropped their price objective on Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Robert W. Baird cut their target price on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, DA Davidson lowered their price target on shares of Graco from $82.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.80.

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.