Graco Inc. (NYSE:GGG) announced a quarterly dividend on Friday, June 15th, RTT News reports. Shareholders of record on Sunday, July 15th will be paid a dividend of 0.1325 per share by the industrial products company on Wednesday, August 1st. This represents a $0.53 annualized dividend and a yield of 1.15%.
Graco has decreased its dividend payment by an average of 0.6% per year over the last three years and has increased its dividend every year for the last 13 years. Graco has a payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Graco to earn $2.04 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 26.0%.
Graco traded down $0.50, hitting $46.04, during midday trading on Friday, Marketbeat reports. The company’s stock had a trading volume of 11,506 shares, compared to its average volume of 456,854. Graco has a 1-year low of $34.89 and a 1-year high of $49.69. The company has a quick ratio of 1.60, a current ratio of 2.55 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 2.38 and a beta of 1.14.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 25th. The industrial products company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. Graco had a net margin of 17.99% and a return on equity of 41.12%. The business had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $369.61 million. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s revenue was up 19.3% on a year-over-year basis. sell-side analysts anticipate that Graco will post 1.89 earnings per share for the current fiscal year.
In other news, insider Patrick J. Mchale sold 221,670 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $45.13, for a total value of $10,003,967.10. Following the completion of the transaction, the insider now directly owns 453,931 shares in the company, valued at approximately $20,485,906.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Etchart sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $43.83, for a total transaction of $657,450.00. The disclosure for this sale can be found here. Insiders sold a total of 347,204 shares of company stock valued at $15,838,068 over the last 90 days. Corporate insiders own 5.10% of the company’s stock.
Several brokerages have weighed in on GGG. Zacks Investment Research cut shares of Graco from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. DA Davidson began coverage on shares of Graco in a research note on Thursday, April 12th. They issued a “neutral” rating and a $48.00 price objective for the company. Finally, ValuEngine upgraded shares of Graco from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.30.
Graco Company Profile
Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.
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