Graco Inc. Plans Quarterly Dividend of $0.16 (NYSE:GGG)
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.
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.
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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