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

The Gorman-Rupp Company (NYSE:GRC - Get Free Report) announced a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.185 per share by the industrial products company on Tuesday, June 10th. This represents a $0.74 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, May 15th.

Gorman-Rupp has increased its dividend by an average of 4.5% per year over the last three years and has increased its dividend annually for the last 52 consecutive years. Gorman-Rupp has a payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gorman-Rupp to earn $2.25 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 32.9%.

Gorman-Rupp Stock Performance

NYSE GRC traded up $0.94 during trading hours on Friday, hitting $36.83. 96,030 shares of the company's stock traded hands, compared to its average volume of 81,307. Gorman-Rupp has a 52 week low of $30.87 and a 52 week high of $43.79. The firm has a market capitalization of $965.98 million, a P/E ratio of 24.07, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The business's fifty day moving average price is $35.51 and its two-hundred day moving average price is $37.95.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $163.95 million during the quarter, compared to analyst estimates of $164.84 million. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. Equities research analysts predict that Gorman-Rupp will post 1.98 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th.

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.