Graco Inc. (NYSE:GGG) declared a quarterly dividend on Monday, September 20th, Wall Street Journal reports. Shareholders of record on Monday, October 18th will be paid a dividend of 0.1875 per share by the industrial products company on Wednesday, November 3rd. This represents a $0.75 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, October 15th.
Graco has raised its dividend payment by 45.8% over the last three years and has raised its dividend every year for the last 17 years. Graco has a dividend payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Graco to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 27.3%.
Shares of GGG stock opened at $69.42 on Thursday. The company has a market capitalization of $11.78 billion, a P/E ratio of 27.12, a P/E/G ratio of 3.83 and a beta of 0.60. The business’s 50 day moving average is $75.35 and its two-hundred day moving average is $75.45. The company has a current ratio of 3.36, a quick ratio of 2.42 and a debt-to-equity ratio of 0.10. Graco has a 12-month low of $60.65 and a 12-month high of $80.48.
Separately, Royal Bank of Canada reduced their target price on Graco from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, July 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $77.60.
In other Graco news, insider Caroline M. Chambers sold 13,000 shares of the firm’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $78.48, for a total transaction of $1,020,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy R. White sold 2,565 shares of the firm’s stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $77.95, for a total value of $199,941.75. Following the sale, the insider now directly owns 48,261 shares of the company’s stock, valued at approximately $3,761,944.95. The disclosure for this sale can be found here. 3.63% of the stock is currently owned by company insiders.
Graco Company Profile
Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies and Industrial Products divisions.
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