Gorman-Rupp Company (The) (NYSE:GRC) Declares Quarterly Dividend of $0.20

Gorman-Rupp Company (The) (NYSE:GRC) declared a quarterly dividend on Friday, October 23rd. Stockholders of record on Friday, November 13th will be given a dividend of $0.20 per share by the industrial products company on Thursday, December 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 13th. This is a 5.3% increase from Gorman-Rupp’s previous quarterly dividend of $0.19.

Gorman-Rupp has a dividend payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gorman-Rupp to earn $3.11 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 24.4%.

Gorman-Rupp Stock Performance

NYSE:GRC traded up $3.54 during midday trading on Friday, reaching $73.67. 467,861 shares of the company traded hands, compared to its average volume of 172,087. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.82. The company has a fifty day moving average price of $74.81 and a 200 day moving average price of $77.12. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 2.02 and a beta of 1.32. Gorman-Rupp has a twelve month low of $42.31 and a twelve month high of $92.78.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Friday, October 23rd. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.70 by $0.16. The company had revenue of $193.25 million for the quarter, compared to analyst estimates of $181.55 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. On average, analysts expect that Gorman-Rupp will post 2.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GRC has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, September 9th. Wall Street Zen lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Gorman-Rupp Company Profile

Gorman-Rupp Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.

The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.

Founded in 1933 by J.C.