Graco Inc. (NYSE:GGG – Get Free Report) declared a quarterly dividend on Friday, September 4th. Stockholders of record on Monday, October 19th will be paid a dividend of $0.2950 per share by the industrial products company on Wednesday, November 4th. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, October 19th.
Graco has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 29 years. Graco has a payout ratio of 37.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Graco to earn $3.49 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 33.8%.
Graco Trading Up 0.3%
Shares of NYSE GGG traded up $0.28 during mid-day trading on Friday, hitting $82.06. The company had a trading volume of 1,191,897 shares, compared to its average volume of 1,655,939. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 2.54 and a beta of 0.89. Graco has a 1 year low of $72.51 and a 1 year high of $95.69. The stock’s 50-day moving average price is $78.89 and its 200-day moving average price is $78.63.
Graco (NYSE:GGG – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. The company had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. Graco had a return on equity of 19.54% and a net margin of 23.53%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. As a group, equities research analysts forecast that Graco will post 3.22 earnings per share for the current year.
About Graco
Graco Inc is a Minneapolis-based manufacturer of equipment used to manage, measure, control and apply fluids and coatings. Its products are used in industrial, commercial and residential applications, including fluid handling, lubrication, dispensing, sealing, bonding, painting and corrosion protection.
The company’s product portfolio includes pumps, valves, meters, regulators, controls, proportioning systems and spray equipment. Graco also supplies equipment for paint and texture application, protective coatings, sealants and adhesives, vehicle servicing, and the automated lubrication of machinery.
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