Graco Inc. (NYSE:GGG) declared a quarterly dividend on Friday, February 16th, RTT News reports. Shareholders of record on Monday, April 16th will be paid a dividend of 0.1325 per share by the industrial products company on Wednesday, May 2nd. This represents a $0.53 annualized dividend and a yield of 1.20%.
Graco has decreased its dividend payment by an average of 0.6% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Graco has a dividend payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Graco to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 27.2%.
Graco (GGG) opened at $44.04 on Friday. The firm has a market capitalization of $7,392.32, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 2.35 and a beta of 1.15. The company has a quick ratio of 1.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.31. Graco has a fifty-two week low of $29.70 and a fifty-two week high of $49.69.
Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The company had revenue of $374.90 million during the quarter, compared to analyst estimates of $369.53 million. Graco had a net margin of 17.12% and a return on equity of 40.08%. Graco’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. equities research analysts anticipate that Graco will post 1.78 earnings per share for the current fiscal year.
Several brokerages have weighed in on GGG. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Saturday, February 3rd. SunTrust Banks reiterated a “hold” rating and issued a $45.00 price target on shares of Graco in a research note on Wednesday, January 31st. B. Riley lifted their price target on Graco from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Deutsche Bank upgraded Graco from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $49.00 price target on shares of Graco in a research note on Thursday, January 4th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $47.33.
In other news, VP Caroline M. Chambers sold 9,939 shares of Graco stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.03, for a total value of $417,736.17. Following the transaction, the vice president now owns 30,615 shares in the company, valued at approximately $1,286,748.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Caroline M. Chambers sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $131.56, for a total value of $1,315,600.00. Following the sale, the vice president now owns 15,191 shares in the company, valued at approximately $1,998,527.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,689 shares of company stock worth $7,961,734. Corporate insiders own 5.70% of the company’s stock.
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Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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