Graco Inc. (GGG) to Issue Quarterly Dividend of $0.26 on November 6th

Graco Inc. (NYSE:GGG) announced a quarterly dividend on Friday, September 13th, Wall Street Journal reports. Shareholders of record on Monday, October 21st will be given 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 yield of 1.19%. The ex-dividend date of this dividend is Monday, October 21st.

Graco has raised its dividend payment by an average of 10.3% per year over the last three years and has raised its dividend annually for the last 28 consecutive years. Graco has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Equities 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 %

Graco stock opened at $85.92 on Friday. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.88 and a beta of 0.81. The business has a 50-day simple moving average of $83.64 and a 200 day simple moving average of $83.02. Graco has a 52 week low of $69.78 and a 52 week high of $94.77.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. Graco had a net margin of 23.16% and a return on equity of 22.40%. The company had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $562.27 million. During the same period in the prior year, the business earned $0.75 earnings per share. Graco’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, research analysts anticipate that Graco will post 2.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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. 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.