Graco Inc. (GGG) Plans Dividend Increase – $0.40 Per Share
Graco Inc. (NYSE:GGG) declared a quarterly dividend on Friday, December 8th, RTT News reports. Investors of record on Monday, January 22nd will be paid a dividend of 0.3975 per share by the industrial products company on Wednesday, February 7th. This represents a $1.59 annualized dividend and a yield of 3.39%. The ex-dividend date is Friday, January 19th. This is a positive change from Graco’s previous quarterly dividend of $0.36.
Graco has decreased its dividend by an average of 0.6% per year over the last three years and has raised its dividend every year for the last 13 years. Graco has a dividend payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Graco to earn $1.57 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 33.8%.
Graco (GGG) opened at $46.92 on Friday. The stock has a market capitalization of $7,900.86, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.84 and a beta of 1.23. Graco has a 1-year low of $28.06 and a 1-year high of $47.44. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. The firm had revenue of $379.81 million during the quarter, compared to analysts’ expectations of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. Graco’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. analysts predict that Graco will post 1.45 EPS for the current year.
In other news, VP Karen Park Gallivan sold 27,000 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $46.67, for a total value of $1,260,090.00. Following the completion of the transaction, the vice president now directly owns 72,305 shares of the company’s stock, valued at $3,374,474.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel Stolyarov sold 500,000 shares of Graco stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $0.11, for a total value of $55,000.00. Over the last three months, insiders sold 734,752 shares of company stock valued at $18,245,690. Insiders own 5.70% of the company’s stock.
A number of research firms have recently weighed in on GGG. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. B. Riley reissued a “hold” rating and issued a $46.67 price target on shares of Graco in a report on Wednesday, December 20th. ValuEngine cut Graco from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Robert W. Baird reissued a “hold” rating and issued a $47.67 price target on shares of Graco in a report on Friday, December 15th. Finally, SunTrust Banks reissued a “hold” rating and issued a $42.67 price target on shares of Graco in a report on Friday, October 27th. Thirteen investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus price target of $41.67.
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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