The Gorman-Rupp Company (NYSE:GRC) to Issue Quarterly Dividend of $0.18

The Gorman-Rupp Company (NYSE:GRC) announced a quarterly dividend on Friday, April 26th, Zacks reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.18 per share by the industrial products company on Monday, June 10th. This represents a $0.72 annualized dividend and a yield of 2.16%. The ex-dividend date is Tuesday, May 14th.

Gorman-Rupp has raised its dividend by an average of 6.1% per year over the last three years and has raised its dividend every year for the last 51 years. Gorman-Rupp has a dividend payout ratio of 38.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gorman-Rupp to earn $1.87 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 38.5%.

Gorman-Rupp Trading Up 6.1 %

Shares of GRC stock traded up $1.93 on Friday, hitting $33.38. The stock had a trading volume of 186,201 shares, compared to its average volume of 91,410. The company has a current ratio of 2.35, a quick ratio of 1.31 and a debt-to-equity ratio of 1.09. Gorman-Rupp has a twelve month low of $23.62 and a twelve month high of $40.00. The company has a fifty day moving average price of $37.29 and a two-hundred day moving average price of $34.48. The firm has a market cap of $875.16 million, a P/E ratio of 24.19, a PEG ratio of 1.53 and a beta of 0.92.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). Gorman-Rupp had a net margin of 5.52% and a return on equity of 10.60%. The business had revenue of $159.27 million during the quarter, compared to analyst estimates of $168.49 million. As a group, analysts forecast that Gorman-Rupp will post 1.58 earnings per share for the current fiscal year.

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.