Graco Inc. (NYSE:GGG) Declares $0.29 Quarterly Dividend

Graco Inc. (NYSE:GGG) announced a quarterly dividend on Friday, June 12th. Shareholders of record on Monday, July 20th will be given a dividend of 0.295 per share by the industrial products company on Wednesday, August 5th. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, July 20th.

Graco has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 29 consecutive years. Graco has a payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Graco to earn $3.37 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 35.0%.

Graco Price Performance

Shares of Graco stock opened at $74.61 on Friday. The company’s 50 day moving average price is $75.18 and its two-hundred day moving average price is $82.90. Graco has a fifty-two week low of $72.51 and a fifty-two week high of $95.69. The firm has a market capitalization of $12.38 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.45 and a beta of 0.93.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The company had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. During the same quarter in the previous year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts expect that Graco will post 3.1 earnings per share for the current year.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.