Graco Inc. to Issue Quarterly Dividend of $0.19 (NYSE:GGG)

Graco Inc. (NYSE:GGG) declared a quarterly dividend on Monday, September 20th, Wall Street Journal reports. Investors of record on Monday, October 18th will be paid a dividend of 0.1875 per share by the industrial products company on Wednesday, November 3rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, October 15th.

Graco has raised its dividend payment by 45.8% over the last three years.

GGG traded down $1.00 during midday trading on Monday, reaching $74.17. The company’s stock had a trading volume of 631,898 shares, compared to its average volume of 664,466. The stock has a market cap of $12.59 billion, a P/E ratio of 28.81, a PEG ratio of 3.83 and a beta of 0.60. The company has a fifty day simple moving average of $77.39 and a 200 day simple moving average of $75.16. The company has a current ratio of 3.36, a quick ratio of 2.42 and a debt-to-equity ratio of 0.10. Graco has a twelve month low of $58.78 and a twelve month high of $80.48.

Graco (NYSE:GGG) last announced its quarterly earnings data on Tuesday, July 20th. The industrial products company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.01. Graco had a return on equity of 31.42% and a net margin of 23.76%. The company had revenue of $507.16 million for the quarter, compared to analyst estimates of $478.01 million. During the same quarter last year, the firm earned $0.37 EPS. Graco’s revenue for the quarter was up 38.2% compared to the same quarter last year. Sell-side analysts expect that Graco will post 2.51 earnings per share for the current year.

Separately, Royal Bank of Canada decreased their price objective on Graco from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, July 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.60.

In other Graco news, insider Timothy R. White sold 2,565 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $77.95, for a total value of $199,941.75. Following the sale, the insider now owns 48,261 shares in the company, valued at $3,761,944.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Caroline M. Chambers sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $78.48, for a total value of $1,020,240.00. The disclosure for this sale can be found here. Corporate insiders own 3.63% of the company’s stock.

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 and Industrial Products divisions.

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Dividend History for Graco (NYSE:GGG)

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