Graco Inc. (NYSE:GGG) Plans $0.28 Quarterly Dividend

Key Points

• Graco Inc. has declared a quarterly dividend of $0.28 per share, scheduled for payment on November 5th to shareholders of record by October 20th.
• The company has a dividend payout ratio of 34.6%, suggesting its dividends are well-supported by earnings, with expected future earnings of $3.24 per share.
• Graco's stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $94.50, indicating potential upside from its current trading price.

Graco Inc. (NYSE:GGG - Get Free Report) declared a quarterly dividend on Friday, September 12th. Shareholders of record on Monday, October 20th will be given a dividend of 0.275 per share by the industrial products company on Wednesday, November 5th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, October 20th.

Graco has a dividend payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Graco to earn $3.24 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 34.0%.

Graco Price Performance

NYSE GGG opened at $82.36 on Friday. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 2.75 and a beta of 1.07. Graco has a one year low of $72.06 and a one year high of $92.86. The business's fifty day moving average is $84.62 and its 200-day moving average is $84.00.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). The business had revenue of $571.81 million for the quarter, compared to the consensus estimate of $590.57 million. Graco had a return on equity of 19.05% and a net margin of 22.26%.The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Research analysts expect that Graco will post 3.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GGG has been the topic of a number of research reports. Weiss Ratings restated a "buy (b-)" rating on shares of Graco in a research note on Wednesday, October 8th. Robert W. Baird boosted their price objective on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $94.50.

About Graco

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.

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