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

Graco Inc. (NYSE:GGG) declared a quarterly dividend on Friday, June 12th. Investors 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 dividend yield of 1.6%. The ex-dividend date is Monday, July 20th.

Graco has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 29 consecutive years. Graco has a dividend payout ratio of 37.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Graco to earn $3.37 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 GGG stock opened at $74.61 on Friday. The business’s 50 day simple moving average is $75.18 and its 200 day simple moving average is $82.90. Graco has a one year low of $72.51 and a one year high of $95.69. The stock has a market capitalization of $12.38 billion, a PE ratio of 24.30, a PEG ratio of 2.45 and a beta of 0.93.

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

About Graco

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.