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

The Gorman-Rupp Company (NYSE:GRC - Get Free Report) announced a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Shareholders 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 yield of 2.09%. 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 31.5% meaning its dividend is sufficiently covered by earnings. Research 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 Up 0.2 %

Shares of GRC stock traded up $0.06 on Monday, hitting $35.48. The company's stock had a trading volume of 70,678 shares, compared to its average volume of 68,923. Gorman-Rupp has a fifty-two week low of $30.87 and a fifty-two week high of $43.79. The firm's fifty day moving average price is $35.82 and its 200-day moving average price is $38.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The stock has a market capitalization of $930.57 million, a price-to-earnings ratio of 23.19, a P/E/G ratio of 1.54 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a report on Friday.

Gorman-Rupp Company Profile

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.

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