Graco Inc. (NYSE:GGG) announced a quarterly dividend on Tuesday, December 10th, Wall Street Journal reports. Investors of record on Tuesday, January 21st will be paid a dividend of 0.175 per share by the industrial products company on Wednesday, February 5th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from Graco’s previous quarterly dividend of $0.16.

Graco has raised its dividend payment by an average of 16.7% per year over the last three years and has increased its dividend every year for the last 14 years. Graco has a payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Graco to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 37.4%.

Shares of NYSE GGG opened at $53.01 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.69 and a quick ratio of 1.68. The stock has a market capitalization of $8.76 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.45 and a beta of 0.98. Graco has a 1-year low of $41.36 and a 1-year high of $53.91. The business has a fifty day moving average price of $50.99 and a 200 day moving average price of $47.99.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.06). Graco had a net margin of 20.29% and a return on equity of 36.17%. The business had revenue of $400.60 million for the quarter, compared to analyst estimates of $418.93 million. During the same period in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that Graco will post 1.81 earnings per share for the current fiscal year.

Several brokerages recently issued reports on GGG. Royal Bank of Canada reaffirmed a “hold” rating and set a $50.00 target price on shares of Graco in a research report on Wednesday, December 18th. Zacks Investment Research raised Graco from a “sell” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $50.25.

In other news, insider Bernard J. Moreau sold 102,949 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $52.55, for a total value of $5,409,969.95. Following the transaction, the insider now directly owns 56,885 shares of the company’s stock, valued at $2,989,306.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack W. Eugster sold 3,376 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $48.87, for a total value of $164,985.12. Following the sale, the director now directly owns 100,130 shares in the company, valued at $4,893,353.10. The disclosure for this sale can be found here. Insiders sold 164,249 shares of company stock worth $8,332,009 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Graco Company Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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Dividend History for Graco (NYSE:GGG)

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