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

Graco Inc. (NYSE:GGG) announced a quarterly dividend on Friday, June 12th. Stockholders 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 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 Trading Down 2.1%

NYSE GGG opened at $74.61 on Friday. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 2.45 and a beta of 0.93. The firm’s 50 day simple moving average is $75.18 and its 200 day simple moving average is $82.90. Graco has a 1 year low of $72.51 and a 1 year high of $95.69.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 earnings per share. On average, equities research analysts forecast 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.