Graco Inc. to Issue Quarterly Dividend of $0.30 (NYSE:GGG)

Key Points

• Graco announced a quarterly dividend of $0.295 per share, payable May 6 with shareholders of record on April 13 and an ex-dividend date of April 13, implying an annualized payout of $1.18 and a yield of about 1.3%.
• Dividend track record and coverage: Graco has raised its dividend for 29 consecutive years and has a payout ratio of ~37.1%, with analysts forecasting earnings that would keep the future payout ratio near 36.4%, indicating the dividend is well covered.
• Recent financials and stock metrics: Graco reported Q earnings of $0.77 EPS and revenue of $593.16M (up 8.1% year-over-year), and the stock trades around $87.52 with a market cap of ~$14.5B and a P/E of 28.3.

Graco Inc. (NYSE:GGG - Get Free Report) announced a quarterly dividend on Friday, February 13th. Shareholders of record on Monday, April 13th will be given a dividend of 0.295 per share by the industrial products company on Wednesday, May 6th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, April 13th.

Graco has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 29 years. Graco has a payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Graco to earn $3.24 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 36.4%.

Graco Stock Performance

Shares of NYSE GGG opened at $87.52 on Friday. Graco has a 1 year low of $75.91 and a 1 year high of $95.69. The firm has a market cap of $14.51 billion, a P/E ratio of 28.32, a PEG ratio of 2.78 and a beta of 1.09. The stock has a fifty day moving average price of $89.28 and a two-hundred day moving average price of $85.38.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, hitting analysts' consensus estimates of $0.77. The company had revenue of $593.16 million for the quarter, compared to the consensus estimate of $591.99 million. Graco had a return on equity of 19.49% and a net margin of 23.33%.The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. On average, research analysts predict that Graco will post 3.06 earnings per share for the current fiscal year.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco's solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company's product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.

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