Graco Inc. (NYSE:GGG) Plans Quarterly Dividend of $0.19

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.

Graco (NYSE:GGG) last issued its quarterly earnings results on Tuesday, July 20th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Graco had a return on equity of 31.42% and a net margin of 23.76%. The company had revenue of $507.16 million for the quarter, compared to the consensus estimate of $478.01 million. During the same quarter in the prior year, the business posted $0.37 earnings per share. Graco’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, research analysts predict that Graco will post 2.51 earnings per share for the current fiscal year.

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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Dividend History for Graco (NYSE:GGG)

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