Graco Inc. (NYSE:GGG) declared a quarterly dividend on Friday, September 20th, RTT News reports. Stockholders of record on Monday, October 21st will be given a dividend of 0.16 per share by the industrial products company on Wednesday, November 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.38%.

Graco has increased its dividend by an average of 9.8% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Graco has a payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Graco to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 31.2%.

Shares of GGG traded up $0.32 during trading hours on Friday, hitting $46.36. 9,302 shares of the stock were exchanged, compared to its average volume of 360,909. Graco has a fifty-two week low of $37.36 and a fifty-two week high of $53.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.39. The business has a 50-day moving average of $45.89 and a 200-day moving average of $48.89. The firm has a market capitalization of $7.73 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). Graco had a return on equity of 39.22% and a net margin of 20.61%. The firm had revenue of $428.30 million for the quarter, compared to analyst estimates of $444.93 million. During the same quarter last year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts forecast that Graco will post 1.91 earnings per share for the current fiscal year.

In other Graco news, Director William J. Carroll sold 6,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $46.53, for a total value of $279,180.00. Following the completion of the sale, the director now directly owns 49,984 shares in the company, valued at $2,325,755.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.23% of the company’s stock.

GGG has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating and set a $49.00 price objective for the company in a research report on Wednesday, May 29th. ValuEngine cut shares of Graco from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. Finally, Robert W. Baird set a $50.00 price objective on shares of Graco and gave the stock a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. Graco currently has a consensus rating of “Hold” and a consensus target price of $47.20.

About Graco

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 division, Industrial Products division and Process division.

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Dividend History for Graco (NYSE:GGG)

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