Spectrum Advisory Services Inc Lowers stake in Graco (GGG)

Graco (GGG) : Spectrum Advisory Services Inc reduced its stake in Graco by 0.59% during the most recent quarter end. The investment management company now holds a total of 83,862 shares of Graco which is valued at $6.7 Million after selling 500 shares in Graco , the firm said in a disclosure report filed with the SEC on May 12, 2016.Graco makes up approximately 2.64% of Spectrum Advisory Services Inc’s portfolio.

Other Hedge Funds, Including , Zebra Capital Management boosted its stake in GGG in the latest quarter, The investment management firm added 3,354 additional shares and now holds a total of 18,523 shares of Graco which is valued at $1.5 Million. Graco makes up approx 0.60% of Zebra Capital Management’s portfolio. Summit Securities Group sold out all of its stake in GGG during the most recent quarter. The investment firm sold 3,800 shares of GGG which is valued $304,190.Norges Bank reduced its stake in GGG by selling 47,748 shares or 9.71% in the most recent quarter. The Hedge Fund company now holds 444,110 shares of GGG which is valued at $35.6 Million. Graco makes up approx 0.02% of Norges Bank’s portfolio.Schwab Charles Investment Management Inc boosted its stake in GGG in the latest quarter, The investment management firm added 8,186 additional shares and now holds a total of 204,396 shares of Graco which is valued at $16.2 Million. Graco makes up approx 0.02% of Schwab Charles Investment Management Inc’s portfolio.Rhumbline Advisers reduced its stake in GGG by selling 3,270 shares or 2.89% in the most recent quarter. The Hedge Fund company now holds 109,776 shares of GGG which is valued at $8.7 Million. Graco makes up approx 0.03% of Rhumbline Advisers’s portfolio.

Graco opened for trading at $78.49 and hit $79.45 on the upside on Friday, eventually ending the session at $78.97, with a gain of 1.28% or 1 points. The heightened volatility saw the trading volume jump to 3,11,757 shares. Company has a market cap of $4,392 M.

On the company’s financial health, Graco reported $0.70 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $0.76. The company had revenue of $304.90 million for the quarter, compared to analysts expectations of $309.11 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.14 EPS.

Many Wall Street Analysts have commented on Graco. Graco was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on Apr 14, 2016. Graco was Downgraded by Sidoti to ” Neutral” on Apr 4, 2016. Seaport Global Securities Downgraded Graco on Mar 22, 2016 to ” Neutral”, Price Target of the shares are set at $80.

Graco Inc. (Graco) is a manufacturing company. The Company designs manufactures and markets equipment to pump meter mix and dispense a variety of fluids and coatings. Its equipment is used in the construction automotive industrial mining oil and natural gas process public works and other industries. The Company operates in three segments: Industrial Contractor and Lubrication. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints coatings sealants adhesives and other fluids. The Contractor segment markets sprayers for architectural coatings for painting corrosion control texture and line striping. The Lubrication segment markets products to move and dispense lubricants for service garages fleet service centers automobile dealerships the mining industry and industrial lubrication applications. Graco sells its products in North Central and South America Europe Middle East and Africa and Asia Pacific.

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