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

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

Graco has raised its dividend payment by an average of 0.1% per year 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% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE GGG traded up $0.28 during mid-day trading on Friday, reaching $82.06. 1,191,897 shares of the company’s stock were exchanged, 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 price-to-earnings-growth ratio of 2.54 and a beta of 0.89. Graco has a 52 week low of $72.51 and a 52 week high of $95.69. The firm has a 50-day moving average price of $78.89 and a two-hundred day moving average price of $78.63.

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