Graco Inc. (NYSE:GGG) to Issue Quarterly Dividend of $0.28

Graco Inc. (NYSE:GGG) announced a quarterly dividend on Monday, June 9th, Wall Street Journal reports. Stockholders of record on Monday, July 21st will be given a dividend of 0.275 per share by the industrial products company on Wednesday, August 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Monday, July 21st.

Graco has a dividend payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Graco to earn $3.24 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 34.0%.

Graco Trading Down 0.0%

Shares of GGG stock traded down $0.01 during trading hours on Monday, hitting $85.03. 652,953 shares of the company’s stock were exchanged, compared to its average volume of 810,604. The company has a market capitalization of $14.21 billion, a PE ratio of 30.15, a PEG ratio of 2.85 and a beta of 1.07. The business’s 50 day simple moving average is $81.85 and its 200-day simple moving average is $84.30. Graco has a 12-month low of $72.06 and a 12-month high of $92.86.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Graco had a return on equity of 19.38% and a net margin of 23.00%. The company had revenue of $528.28 million for the quarter, compared to analysts’ expectations of $526.98 million. During the same period last year, the firm earned $0.65 earnings per share. Graco’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that Graco will post 3.06 EPS for the current year.

Insiders Place Their Bets

In other Graco news, insider David J. Thompson sold 3,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the transaction, the insider now owns 27,520 shares of the company’s stock, valued at approximately $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.19% of the company’s stock.

Institutional Trading of Graco

An institutional investor recently raised its position in Graco stock. Geneos Wealth Management Inc. grew its stake in Graco Inc. (NYSE:GGG) by 982.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 498 shares of the industrial products company’s stock after acquiring an additional 452 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Graco were worth $42,000 at the end of the most recent quarter. Institutional investors own 93.88% of the company’s stock.

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.