Graco Inc. (GGG) To Go Ex-Dividend on October 21st

Graco Inc. (NYSE:GGG) declared a quarterly dividend on Friday, September 13th, Wall Street Journal reports. Investors of record on Monday, October 21st will be paid a dividend of 0.255 per share by the industrial products company on Wednesday, November 6th. This represents a $1.02 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, October 21st.

Graco has raised its dividend by an average of 10.3% annually over the last three years and has increased its dividend annually for the last 28 consecutive years. Graco has a payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Graco to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 32.4%.

Graco Stock Up 0.0 %

Graco stock opened at $85.92 on Friday. The business’s 50-day moving average price is $83.64 and its two-hundred day moving average price is $83.02. The stock has a market cap of $14.53 billion, a PE ratio of 29.63, a P/E/G ratio of 2.88 and a beta of 0.81. Graco has a 12-month low of $69.78 and a 12-month high of $94.77.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. The company had revenue of $553.20 million for the quarter, compared to the consensus estimate of $562.27 million. Graco had a return on equity of 22.40% and a net margin of 23.16%. Graco’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. As a group, analysts expect that Graco will post 2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GGG. DA Davidson reaffirmed a “neutral” rating and set a $79.00 price target on shares of Graco in a research note on Friday, September 27th. Royal Bank of Canada cut their price objective on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Robert W. Baird reduced their price objective on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Graco presently has a consensus rating of “Hold” and an average target price of $90.25.

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. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.