Gorman-Rupp Company (The) (NYSE:GRC) Plans Quarterly Dividend of $0.19

Gorman-Rupp Company (The) (NYSE:GRC) declared a quarterly dividend on Friday, July 24th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.19 per share by the industrial products company on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 14th.

Gorman-Rupp has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 52 years. Gorman-Rupp has a payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gorman-Rupp to earn $3.04 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 25.0%.

Gorman-Rupp Stock Up 2.7%

Shares of NYSE GRC traded up $2.14 during midday trading on Friday, reaching $81.76. The company’s stock had a trading volume of 351,288 shares, compared to its average volume of 161,425. The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69. Gorman-Rupp has a fifty-two week low of $39.52 and a fifty-two week high of $92.78. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.37 and a beta of 1.28. The stock has a 50 day simple moving average of $80.58 and a 200-day simple moving average of $69.31.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The business had revenue of $186.07 million during the quarter, compared to analysts’ expectations of $188.89 million. Equities research analysts predict that Gorman-Rupp will post 2.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GRC shares. Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

About Gorman-Rupp

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.