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

The Gorman-Rupp Company (NYSE:GRC) declared a quarterly dividend on Friday, October 25th, Zacks reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.185 per share by the industrial products company on Tuesday, December 10th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18.

Gorman-Rupp has increased its dividend by an average of 6.1% per year over the last three years and has increased its dividend every year for the last 51 years. Gorman-Rupp has a dividend payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gorman-Rupp to earn $1.98 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 36.4%.

Gorman-Rupp Stock Performance

Shares of Gorman-Rupp stock opened at $37.36 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.45 and a quick ratio of 1.44. The firm has a 50 day simple moving average of $38.22 and a 200 day simple moving average of $36.98. Gorman-Rupp has a fifty-two week low of $28.87 and a fifty-two week high of $42.24. The firm has a market cap of $979.24 million, a P/E ratio of 27.07, a P/E/G ratio of 1.59 and a beta of 0.91.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, October 25th. The industrial products company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Gorman-Rupp had a net margin of 5.20% and a return on equity of 11.39%. The firm had revenue of $168.18 million during the quarter, compared to analyst estimates of $170.81 million. Sell-side analysts predict that Gorman-Rupp will post 1.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.