Gorman-Rupp Company (The) (GRC) to Issue Quarterly Dividend of $0.19 on September 10th

Gorman-Rupp Company (The) (NYSE:GRC) announced a quarterly dividend on Friday, July 24th. Shareholders of record on Friday, August 14th will be paid 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 by an average of 0.0%annually over the last three years and has increased 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. 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 Up 1.2%

GRC stock opened at $82.81 on Wednesday. The company’s 50 day simple moving average is $82.85 and its 200-day simple moving average is $72.15. The firm has a market capitalization of $2.19 billion, a PE ratio of 34.94, a P/E/G ratio of 2.36 and a beta of 1.29. Gorman-Rupp has a 12 month low of $41.02 and a 12 month high of $92.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.82.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $186.07 million for the quarter, compared to analyst estimates of $188.89 million. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%. Equities analysts expect that Gorman-Rupp will post 2.67 earnings per share for the current fiscal year.

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.