Graco Inc. (NYSE:GGG) declared a quarterly dividend on Friday, June 14th, RTT News reports. Investors of record on Monday, July 22nd will be given a dividend of 0.16 per share by the industrial products company on Wednesday, August 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.30%.

Graco has increased its dividend payment by an average of 9.8% per year over the last three years and has raised its dividend every year for the last 14 years. Graco has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Graco to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 29.8%.

Shares of GGG stock traded down $0.47 on Friday, hitting $49.29. The company’s stock had a trading volume of 4,828 shares, compared to its average volume of 403,176. The firm has a market cap of $8.31 billion, a PE ratio of 26.22, a PEG ratio of 2.17 and a beta of 1.00. Graco has a fifty-two week low of $37.36 and a fifty-two week high of $53.91. The company has a current ratio of 2.07, a quick ratio of 1.23 and a debt-to-equity ratio of 0.21.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $404.90 million for the quarter, compared to analyst estimates of $415.70 million. Graco had a net margin of 20.72% and a return on equity of 41.51%. Graco’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share. As a group, analysts forecast that Graco will post 2 EPS for the current fiscal year.

In other Graco news, insider Timothy R. White sold 6,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $52.18, for a total value of $313,080.00. Following the transaction, the insider now directly owns 50,660 shares of the company’s stock, valued at $2,643,438.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Johnson sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $48.85, for a total value of $732,750.00. The disclosure for this sale can be found here. Insiders sold 231,510 shares of company stock valued at $11,784,984 in the last ninety days. 4.23% of the stock is currently owned by insiders.

GGG has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating and set a $49.00 price target for the company in a research note on Wednesday, May 29th. DA Davidson restated a “neutral” rating on shares of Graco in a research note on Thursday, April 25th. Eight analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $47.00.

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About Graco

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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