Graco Inc. (GGG) to Issue Quarterly Dividend of $0.29 on August 5th

Graco Inc. (NYSE:GGG) announced a quarterly dividend on Friday, June 12th. Investors of record on Monday, July 20th will be paid 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 payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 29 consecutive years. Graco has a dividend payout ratio of 37.1% meaning 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 Stock Down 2.1%

Shares of GGG stock opened at $74.61 on Friday. The company has a market capitalization of $12.38 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.45 and a beta of 0.93. Graco has a 12-month low of $72.51 and a 12-month high of $95.69. The firm has a 50-day moving average price of $75.18 and a 200 day moving average price of $82.90.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on GGG shares. DA Davidson restated a “neutral” rating and set a $85.00 target price on shares of Graco in a report on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $92.00 price target (down from $95.00) on shares of Graco in a report on Thursday. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Finally, Robert W. Baird dropped their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $93.50.

Graco Company Profile

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.