Graco Inc. (NYSE:GGG) Declares Quarterly Dividend of $0.26

Graco Inc. (NYSE:GGGGet Free Report) announced a quarterly dividend on Friday, December 1st, Wall Street Journal reports. Stockholders of record on Monday, January 22nd will be paid a dividend of 0.255 per share by the industrial products company on Wednesday, February 7th. This represents a $1.02 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, January 19th. This is a positive change from Graco’s previous quarterly dividend of $0.24.

Graco has increased its dividend by an average of 10.3% annually over the last three years and has increased its dividend annually for the last 27 consecutive years. Graco has a payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Graco to earn $3.18 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 32.1%.

Graco Price Performance

NYSE GGG opened at $83.37 on Thursday. The business has a 50 day simple moving average of $82.90 and a 200 day simple moving average of $79.42. Graco has a one year low of $65.93 and a one year high of $87.94. The stock has a market capitalization of $14.07 billion, a P/E ratio of 27.42, a P/E/G ratio of 2.66 and a beta of 0.80.

Graco (NYSE:GGGGet Free Report) last released its earnings results on Wednesday, October 25th. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. Graco had a return on equity of 25.08% and a net margin of 23.93%. The business had revenue of $539.70 million during the quarter, compared to analysts’ expectations of $557.12 million. During the same quarter last year, the firm posted $0.66 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Equities analysts expect that Graco will post 3.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Caroline M. Chambers sold 12,992 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $80.59, for a total transaction of $1,047,025.28. Following the transaction, the insider now owns 56,409 shares of the company’s stock, valued at approximately $4,546,001.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Caroline M. Chambers sold 12,992 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $80.59, for a total transaction of $1,047,025.28. Following the transaction, the insider now owns 56,409 shares of the company’s stock, valued at approximately $4,546,001.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark W. Sheahan sold 12,884 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $83.37, for a total value of $1,074,139.08. Following the transaction, the chief executive officer now directly owns 93,182 shares in the company, valued at approximately $7,768,583.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,734 shares of company stock valued at $2,495,479. Insiders own 2.98% of the company’s stock.

Institutional Trading of Graco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Money Concepts Capital Corp increased its stake in Graco by 569.7% in the 4th quarter. Money Concepts Capital Corp now owns 509 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 433 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Graco during the 2nd quarter valued at about $35,000. Rockefeller Capital Management L.P. increased its position in shares of Graco by 141.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 607 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 356 shares during the last quarter. Compass Wealth Management LLC bought a new position in shares of Graco during the 4th quarter valued at about $46,000. Finally, First Capital Advisors Group LLC. bought a new position in shares of Graco during the 2nd quarter valued at about $59,000. 84.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on GGG shares. BNP Paribas started coverage on Graco in a research note on Thursday, October 5th. They set a “neutral” rating and a $73.00 target price for the company. StockNews.com raised Graco from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Jefferies Financial Group raised their price objective on Graco from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.40.

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Graco Company Profile

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Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; 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, and precision dispensing solutions.

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Dividend History for Graco (NYSE:GGG)

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