Graco Inc. (NYSE:GGG) Shareholders to Get $0.29 Quarterly Dividend

Graco Inc. (NYSE:GGG) declared a quarterly dividend on Friday, September 4th. Investors of record on Monday, October 19th will be given 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 yield of 1.4%. The ex-dividend date is Monday, October 19th.

Graco has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 29 consecutive years. Graco has a payout ratio of 37.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Up 0.3%

NYSE GGG traded up $0.28 during midday 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 stock has a market cap 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. The firm has a fifty day simple moving average of $78.89 and a two-hundred day simple moving average of $78.63. Graco has a fifty-two week low of $72.51 and a fifty-two week high of $95.69.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. Graco had a net margin of 23.53% and a return on equity of 19.54%. The business had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. During the same quarter in the prior year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict 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.