Graco Inc. Declares Quarterly Dividend of $0.26 (NYSE:GGG)

Graco Inc. (NYSE:GGG) announced a quarterly dividend on Friday, September 13th, Wall Street Journal reports. Investors of record on Monday, October 21st will be paid a dividend of 0.255 per share by the industrial products company on Wednesday, November 6th. This represents a $1.02 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, October 21st.

Graco has increased its dividend by an average of 10.3% annually over the last three years and has increased its dividend annually for the last 28 consecutive years. Graco has a payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Graco to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 32.4%.

Graco Stock Up 0.0 %

NYSE GGG opened at $85.92 on Friday. The stock has a market capitalization of $14.53 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. Graco has a 12-month low of $69.78 and a 12-month high of $94.77. The company has a 50 day moving average price of $83.64 and a two-hundred day moving average price of $82.96.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. The business had revenue of $553.20 million during the quarter, compared to analyst estimates of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. Graco’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. As a group, equities analysts anticipate that Graco will post 2.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GGG. DA Davidson reissued a “neutral” rating and set a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Robert W. Baird lowered their price target on Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Royal Bank of Canada reduced their price objective on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Graco currently has a consensus rating of “Hold” and a consensus target price of $90.25.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.