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

Key Points

• Gorman-Rupp announced a quarterly dividend of $0.19 per share, payable on September 10 to shareholders of record on August 14. The dividend implies an annualized yield of about 0.9%.
• The company has increased its dividend for 52 consecutive years, and its payout ratio of 31.9% suggests the dividend is well covered by earnings.
• On the earnings front, Gorman-Rupp reported $0.74 EPS for the quarter, topping estimates, while revenue came in slightly below expectations at $186.07 million.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report) announced a quarterly dividend on Friday, July 24th. Stockholders of record on Friday, August 14th will be given a dividend of 0.19 per share by the industrial products company on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 14th.

Gorman-Rupp has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 52 years. Gorman-Rupp has a dividend payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gorman-Rupp to earn $3.04 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 25.0%.

Gorman-Rupp Price Performance

Shares of Gorman-Rupp stock traded up $2.14 during midday trading on Friday, reaching $81.76. The company had a trading volume of 351,288 shares, compared to its average volume of 161,425. The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $80.58 and a 200 day simple moving average of $69.31. Gorman-Rupp has a 1-year low of $39.52 and a 1-year high of $92.78. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. The firm had revenue of $186.07 million for the quarter, compared to the consensus estimate of $188.89 million. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%. As a group, equities research analysts forecast that Gorman-Rupp will post 2.6 earnings per share for the current year.

Institutional Trading of Gorman-Rupp

Several hedge funds have recently bought and sold shares of the stock. Huntington National Bank acquired a new stake in shares of Gorman-Rupp during the fourth quarter worth $31,000. NewEdge Advisors LLC boosted its stake in Gorman-Rupp by 130.7% in the 4th quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company's stock worth $32,000 after purchasing an additional 379 shares during the period. Osaic Holdings Inc. increased its holdings in Gorman-Rupp by 125.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company's stock worth $62,000 after purchasing an additional 939 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Gorman-Rupp by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company's stock worth $75,000 after purchasing an additional 1,180 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Gorman-Rupp in the 1st quarter valued at about $89,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Company Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.

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