Graco Inc. Plans Quarterly Dividend of $0.13 (GGG)

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Graco Inc. (NYSE:GGG) announced a quarterly dividend on Friday, September 21st, RTT News reports. Investors of record on Monday, October 22nd will be given a dividend of 0.1325 per share by the industrial products company on Wednesday, November 7th. This represents a $0.53 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, October 19th.

Graco has decreased its dividend by an average of 0.6% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Graco has a dividend payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Graco to earn $1.98 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 26.8%.

Shares of Graco stock traded up $0.60 on Friday, hitting $39.90. 1,326,865 shares of the company were exchanged, compared to its average volume of 677,090. The stock has a market cap of $7.75 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.91 and a beta of 1.09. Graco has a 1-year low of $39.26 and a 1-year high of $49.69. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.65 and a quick ratio of 1.64.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 25th. The industrial products company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). The company had revenue of $424.60 million for the quarter, compared to analyst estimates of $421.19 million. Graco had a return on equity of 40.67% and a net margin of 18.07%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 earnings per share. As a group, research analysts expect that Graco will post 1.84 EPS for the current fiscal year.

GGG has been the topic of several recent research reports. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Graco in a research report on Thursday, July 26th. Royal Bank of Canada reaffirmed a “hold” rating and set a $49.00 price target on shares of Graco in a research report on Friday, July 27th. DA Davidson set a $49.00 price target on shares of Graco and gave the company a “hold” rating in a research report on Monday, August 20th. Finally, ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Graco currently has an average rating of “Hold” and an average target price of $49.17.

In other Graco news, insider Caroline M. Chambers sold 97,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $47.10, for a total value of $4,592,250.00. Following the sale, the insider now owns 119,092 shares of the company’s stock, valued at $5,609,233.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jack W. Eugster sold 32,297 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $46.66, for a total value of $1,506,978.02. Following the completion of the sale, the director now directly owns 103,251 shares in the company, valued at approximately $4,817,691.66. The disclosure for this sale can be found here. 5.10% of the stock is owned by insiders.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.

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Dividend History for Graco (NYSE:GGG)

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