BNP Paribas Financial Markets Has $8.69 Million Holdings in Graco Inc. (NYSE:GGG)

BNP Paribas Financial Markets decreased its holdings in Graco Inc. (NYSE:GGG) by 32.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,307 shares of the industrial products company’s stock after selling 48,295 shares during the quarter. BNP Paribas Financial Markets’ holdings in Graco were worth $8,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Gradient Investments LLC acquired a new position in shares of Graco in the 2nd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new position in Graco in the third quarter valued at $30,000. UMB Bank n.a. boosted its position in Graco by 187.8% during the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 323 shares during the last quarter. Blue Trust Inc. grew its holdings in Graco by 220.9% during the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 475 shares during the period. Finally, Eastern Bank bought a new position in shares of Graco in the 3rd quarter worth about $59,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Graco

In related news, insider David J. Thompson sold 3,216 shares of Graco stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total transaction of $284,004.96. Following the transaction, the insider now owns 27,246 shares of the company’s stock, valued at $2,406,094.26. The trade was a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $90.30, for a total value of $137,888.10. Following the completion of the sale, the executive vice president now directly owns 6,374 shares of the company’s stock, valued at $575,572.20. The trade was a 19.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,818 shares of company stock valued at $2,026,230. 2.63% of the stock is owned by corporate insiders.

Graco Stock Down 0.4 %

NYSE GGG opened at $90.72 on Tuesday. Graco Inc. has a 52 week low of $77.49 and a 52 week high of $94.77. The business has a 50 day moving average price of $86.53 and a 200-day moving average price of $83.00. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 3.15 and a beta of 0.82.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a net margin of 22.87% and a return on equity of 21.24%. The business had revenue of $519.21 million for the quarter, compared to the consensus estimate of $538.19 million. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Graco Inc. will post 2.89 earnings per share for the current year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.02 annualized dividend and a yield of 1.12%. Graco’s payout ratio is 36.04%.

Analyst Ratings Changes

Several equities research analysts recently commented on GGG shares. Royal Bank of Canada cut their target price on Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. DA Davidson restated a “neutral” rating and set a $79.00 price target on shares of Graco in a report on Friday, September 27th. Finally, Robert W. Baird lowered their price objective on shares of Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Graco presently has a consensus rating of “Hold” and an average price target of $89.25.

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.