Champlain Investment Partners LLC Decreases Stock Position in Graco Inc. (NYSE:GGG)

Champlain Investment Partners LLC lowered its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,258,342 shares of the industrial products company's stock after selling 232,690 shares during the quarter. Champlain Investment Partners LLC owned about 1.34% of Graco worth $164,882,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Silicon Valley Capital Partners acquired a new stake in shares of Graco during the first quarter worth $25,000. Ameritas Advisory Services LLC purchased a new stake in Graco during the 1st quarter valued at about $27,000. Global Retirement Partners LLC increased its holdings in shares of Graco by 52.5% in the first quarter. Global Retirement Partners LLC now owns 421 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 145 shares during the period. Money Concepts Capital Corp raised its stake in shares of Graco by 569.7% in the fourth quarter. Money Concepts Capital Corp now owns 509 shares of the industrial products company's stock worth $34,000 after purchasing an additional 433 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Graco during the second quarter worth about $35,000. 84.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of GGG stock traded up $0.09 during trading hours on Thursday, hitting $78.90. 1,388,008 shares of the company's stock were exchanged, compared to its average volume of 881,858. Graco Inc. has a fifty-two week low of $58.17 and a fifty-two week high of $87.94. The firm has a market cap of $13.33 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.59 and a beta of 0.81. The firm has a 50 day moving average of $81.62 and a two-hundred day moving average of $76.83.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a return on equity of 25.52% and a net margin of 23.10%. The company had revenue of $559.60 million for the quarter, compared to analyst estimates of $576.14 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The business's revenue was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Graco Inc. will post 2.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Monday, July 17th were issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, July 14th. Graco's payout ratio is 31.97%.

A number of equities analysts have issued reports on GGG shares. StockNews.com raised shares of Graco from a "hold" rating to a "buy" rating in a research report on Friday, August 25th. Royal Bank of Canada lowered their price objective on Graco from $94.00 to $91.00 and set an "outperform" rating on the stock in a research report on Friday, July 28th. Finally, William Blair reaffirmed a "market perform" rating on shares of Graco in a report on Monday, June 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $83.00.

Get Our Latest Analysis on GGG

In other news, insider Caroline M. Chambers sold 7,060 shares of Graco stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $77.04, for a total value of $543,902.40. Following the sale, the insider now directly owns 49,381 shares of the company's stock, valued at $3,804,312.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Graco news, CEO Mark W. Sheahan acquired 1,263 shares of the company's stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average price of $79.04 per share, with a total value of $99,827.52. Following the purchase, the chief executive officer now owns 62,986 shares in the company, valued at $4,978,413.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Caroline M. Chambers sold 7,060 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $77.04, for a total transaction of $543,902.40. Following the completion of the sale, the insider now owns 49,381 shares of the company's stock, valued at approximately $3,804,312.24. The disclosure for this sale can be found here. 2.98% of the stock is owned by company insiders.

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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