Conestoga Capital Advisors LLC Sells 4,385 Shares of Graco Inc. (NYSE:GGG)

Conestoga Capital Advisors LLC lessened its position in shares of Graco Inc. (NYSE:GGG) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 342,474 shares of the industrial products company’s stock after selling 4,385 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.20% of Graco worth $29,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Tobam lifted its stake in Graco by 2,330.8% during the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 303 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in Graco in the fourth quarter valued at about $28,000. Fortitude Family Office LLC acquired a new position in Graco during the fourth quarter worth about $29,000. Money Concepts Capital Corp boosted its stake in shares of Graco by 569.7% in the 4th quarter. Money Concepts Capital Corp now owns 509 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 433 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Graco in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Upgrades and Downgrades

GGG has been the topic of a number of research reports. StockNews.com raised shares of Graco from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Jefferies Financial Group lifted their price target on Graco from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada upped their price objective on Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

Graco Stock Performance

Shares of GGG stock traded down $1.13 on Wednesday, hitting $91.73. The company had a trading volume of 205,162 shares, compared to its average volume of 656,875. Graco Inc. has a twelve month low of $68.78 and a twelve month high of $94.77. The firm has a market cap of $15.46 billion, a P/E ratio of 31.58, a P/E/G ratio of 2.94 and a beta of 0.81. The stock’s 50-day moving average is $90.78 and its two-hundred day moving average is $83.68.

Graco (NYSE:GGG) last issued its quarterly earnings results on Monday, January 29th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Graco had a net margin of 23.07% and a return on equity of 24.61%. The firm had revenue of $566.64 million for the quarter, compared to the consensus estimate of $565.86 million. Equities research analysts predict that Graco Inc. will post 3.14 EPS for the current year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.255 per share. The ex-dividend date is Friday, April 12th. This represents a $1.02 annualized dividend and a yield of 1.11%. Graco’s dividend payout ratio is currently 34.69%.

Insiders Place Their Bets

In other Graco news, insider Timothy R. White sold 2,895 shares of Graco stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $87.49, for a total value of $253,283.55. Following the completion of the sale, the insider now directly owns 50,782 shares of the company’s stock, valued at $4,442,917.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Angela F. Wordell sold 3,588 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total value of $335,836.80. Following the completion of the sale, the vice president now directly owns 12,725 shares of the company’s stock, valued at $1,191,060. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Timothy R. White sold 2,895 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $87.49, for a total transaction of $253,283.55. Following the transaction, the insider now owns 50,782 shares of the company’s stock, valued at approximately $4,442,917.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,378 shares of company stock worth $4,376,528. 2.63% of the stock is owned by corporate insiders.

About Graco

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.