Carlson Capital Management buys $453,822 stake in Graco (GGG)

Graco (GGG) : Carlson Capital Management scooped up 60 additional shares in Graco during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 6,318 shares of Graco which is valued at $453,822.Graco makes up approximately 0.16% of Carlson Capital Management’s portfolio.

Other Hedge Funds, Including , Simplex Trading reduced its stake in GGG by selling 908 shares or 61.43% in the most recent quarter. The Hedge Fund company now holds 570 shares of GGG which is valued at $41,108. Graco makes up approx 0.01% of Simplex Trading’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in GGG by selling 16,899 shares or 76.85% in the most recent quarter. The Hedge Fund company now holds 5,091 shares of GGG which is valued at $384,065.

Graco closed down -1.73 points or -2.41% at $70.1 with 2,20,732 shares getting traded on Tuesday. Post opening the session at $71.27, the shares hit an intraday low of $69.77 and an intraday high of $71.27 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Graco reported $0.89 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus of $1.00. The company had revenue of $348.10 million for the quarter, compared to analysts expectations of $352.49 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.

Investors should note that on Sep 16, 2016, Graco announced a cash dividend of $0.3300. The company’s management has announced Oct 13, 2016 as the ex-dividend date and fixed the record date on Oct 17, 2016. The payable date has been fixed on Nov 2, 2016.

Many Wall Street Analysts have commented on Graco. Deutsche Bank Initiated Graco on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $83.

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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