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

The Gorman-Rupp Company (NYSE:GRC) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.185 per share by the industrial products company on Monday, March 10th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, February 14th.

Gorman-Rupp has raised its dividend payment by an average of 4.5% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Gorman-Rupp has a dividend payout ratio of 32.9% 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 $0.74 annual dividend with an expected future payout ratio of 37.4%.

Gorman-Rupp Stock Up 2.2 %

Shares of NYSE GRC opened at $37.75 on Wednesday. The business has a 50-day moving average price of $38.62 and a 200 day moving average price of $38.89. The stock has a market cap of $990.18 million, a PE ratio of 26.03, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. 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 52-week low of $30.47 and a 52-week high of $43.79.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a net margin of 5.80% and a return on equity of 12.32%. During the same period last year, the company earned $0.34 earnings per share. Equities research analysts forecast that Gorman-Rupp will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 29th.

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.