Gorman-Rupp Co Declares Quarterly Dividend of $0.13 (GRC)
Gorman-Rupp Co (NYSE:GRC) announced a quarterly dividend on Thursday, January 25th, Zacks reports. Investors of record on Thursday, February 15th will be given a dividend of 0.125 per share by the industrial products company on Friday, March 9th. This represents a $0.50 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, February 14th.
Gorman-Rupp has raised its dividend by an average of 8.3% annually over the last three years and has increased its dividend every year for the last 45 years. Gorman-Rupp has a payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings.
Gorman-Rupp (NYSE:GRC) traded up $1.53 on Friday, reaching $28.42. The company had a trading volume of 27,344 shares, compared to its average volume of 42,495. Gorman-Rupp has a twelve month low of $23.55 and a twelve month high of $33.50. The company has a market cap of $725.50, a PE ratio of 29.88 and a beta of 1.18.
Separately, Zacks Investment Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, October 31st.
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Gorman-Rupp Company Profile
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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