Graco Inc. (GGG) to Distribute Quarterly Dividend of $0.29 on November 4th

Graco Inc. (NYSE:GGG) announced a quarterly dividend on Friday, September 4th. Stockholders of record on Monday, October 19th will be paid a dividend of $0.2950 per share by the industrial products company on Wednesday, November 4th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, October 19th.

Graco has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 29 years. Graco has a dividend payout ratio of 37.1% meaning 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 Performance

Graco stock traded up $0.28 during trading on Friday, reaching $82.06. The company had a trading volume of 1,191,897 shares, compared to its average volume of 1,655,939. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 2.54 and a beta of 0.89. The stock’s 50 day moving average price is $78.89 and its two-hundred day moving average price is $78.63. Graco has a 12-month low of $72.51 and a 12-month high of $95.69.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%. The firm had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts expect that Graco will post 3.22 earnings per share for the current year.

Graco Company Profile

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.