Graco Inc. (NYSE:GGG) Plans Quarterly Dividend of $0.28

Graco Inc. (NYSE:GGG) declared a quarterly dividend on Monday, June 9th, Wall Street Journal reports. Stockholders of record on Monday, July 21st will be given a dividend of 0.275 per share by the industrial products company on Wednesday, August 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Monday, July 21st.

Graco has a payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Graco to earn $3.24 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 34.0%.

Graco Stock Down 0.0%

Graco stock traded down $0.01 during mid-day trading on Monday, reaching $85.03. 652,953 shares of the company’s stock were exchanged, compared to its average volume of 810,604. The firm has a market capitalization of $14.21 billion, a PE ratio of 30.15, a P/E/G ratio of 2.85 and a beta of 1.07. The business’s fifty day simple moving average is $81.85 and its 200 day simple moving average is $84.30. Graco has a one year low of $72.06 and a one year high of $92.86.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Graco had a net margin of 23.00% and a return on equity of 19.38%. The company had revenue of $528.28 million for the quarter, compared to the consensus estimate of $526.98 million. During the same period in the previous year, the firm earned $0.65 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that Graco will post 3.06 earnings per share for the current year.

Insider Buying and Selling at Graco

In other Graco news, insider David J. Thompson sold 3,588 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the sale, the insider now directly owns 27,520 shares of the company’s stock, valued at $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Graco stock. Geneos Wealth Management Inc. increased its stake in shares of Graco Inc. (NYSE:GGG) by 982.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 498 shares of the industrial products company’s stock after purchasing an additional 452 shares during the period. Geneos Wealth Management Inc.’s holdings in Graco were worth $42,000 as of its most recent SEC filing. Institutional investors and hedge funds own 93.88% of the company’s stock.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.