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

The Gorman-Rupp Company (NYSE:GRC) announced a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.185 per share by the industrial products company on Tuesday, June 10th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, May 15th.

Gorman-Rupp has increased its dividend by an average of 4.5% per year over the last three years and has raised its dividend every year for the last 52 years. Gorman-Rupp has a payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Gorman-Rupp to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 32.9%.

Gorman-Rupp Price Performance

Shares of GRC opened at $38.74 on Tuesday. The company has a 50 day moving average of $35.43 and a two-hundred day moving average of $37.91. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. Gorman-Rupp has a twelve month low of $30.87 and a twelve month high of $43.79.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. The company had revenue of $163.95 million during the quarter, compared to analysts’ expectations of $164.84 million. As a group, analysts predict that Gorman-Rupp will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th.

About Gorman-Rupp

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.