Fenimore Asset Management Inc buys $29,272,638 stake in Graco (GGG)

Graco (GGG) : Fenimore Asset Management Inc scooped up 350 additional shares in Graco during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 417,584 shares of Graco which is valued at $29,272,638.Graco makes up approximately 1.43% of Fenimore Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Raymond James Trust N.a. boosted its stake in GGG in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 2,894 shares of Graco which is valued at $207,876. Graco makes up approx 0.02% of Raymond James Trust N.a.’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in GGG in the latest quarter, The investment management firm added 383 additional shares and now holds a total of 19,873 shares of Graco which is valued at $1,427,478. Graco makes up approx 0.03% of Oregon Public Employees Retirement Fund’s portfolio.

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.

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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