Graco Inc. (NYSE:GGG) to Issue Dividend Increase – $0.30 Per Share

Graco Inc. (NYSE:GGG) announced a quarterly dividend on Friday, December 5th. Investors of record on Monday, January 19th will be paid a dividend of 0.295 per share by the industrial products company on Wednesday, February 4th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, January 16th. This is a 7.3% increase from Graco’s previous quarterly dividend of $0.28.

Graco has raised its dividend payment by an average of 0.1%per year over the last three years and has increased 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 $3.24 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 36.4%.

Graco Price Performance

NYSE:GGG opened at $86.04 on Wednesday. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The firm’s fifty day moving average price is $82.64 and its 200 day moving average price is $83.99. Graco has a 1-year low of $72.06 and a 1-year high of $89.67.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $543.36 million for the quarter, compared to analysts’ expectations of $563.07 million. Graco had a return on equity of 18.89% and a net margin of 22.72%.The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, analysts expect that Graco will post 3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GGG. Root Financial Partners LLC acquired a new position in shares of Graco in the third quarter worth $29,000. NewSquare Capital LLC grew its holdings in Graco by 320.7% in the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 263 shares during the period. CX Institutional increased its holdings in shares of Graco by 316.7% during the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after buying an additional 361 shares during the last quarter. Assetmark Inc. increased its stake in Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 139 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Graco by 41.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock valued at $41,000 after buying an additional 141 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

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.