Graco Inc. (NYSE:GGG) Declares $0.26 Quarterly Dividend

Graco Inc. (NYSE:GGG) declared a quarterly dividend on Monday, June 17th, Wall Street Journal reports. Stockholders of record on Monday, July 22nd will be paid a dividend of 0.255 per share by the industrial products company on Wednesday, August 7th. This represents a $1.02 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, July 22nd.

Graco has increased its dividend payment by an average of 10.3% per year over the last three years and has raised its dividend annually for the last 28 consecutive years. Graco has a dividend payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Graco to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 31.3%.

Graco Trading Up 1.1 %

GGG stock opened at $80.13 on Tuesday. Graco has a 1-year low of $69.78 and a 1-year high of $94.77. The firm has a market cap of $13.55 billion, a PE ratio of 27.63, a P/E/G ratio of 2.60 and a beta of 0.82. The business’s 50-day moving average price is $83.29 and its two-hundred day moving average price is $86.23.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.09). Graco had a net margin of 23.15% and a return on equity of 23.01%. The business had revenue of $492.19 million for the quarter, compared to the consensus estimate of $536.19 million. During the same quarter last year, the firm earned $0.74 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, analysts forecast that Graco will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. William Blair reaffirmed a “market perform” rating on shares of Graco in a research report on Friday, April 26th. Robert W. Baird reduced their price objective on Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $88.25.

Graco Company Profile

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.