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

Gorman-Rupp Company (The) (NYSE:GRC) declared a quarterly dividend on Friday, January 23rd. Shareholders of record on Friday, February 13th will be given a dividend of 0.19 per share by the industrial products company on Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, February 13th.

Gorman-Rupp has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 52 consecutive years. Gorman-Rupp has a payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Gorman-Rupp to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 33.8%.

Gorman-Rupp Stock Performance

Shares of NYSE GRC traded down $1.57 during mid-day trading on Friday, reaching $52.24. 43,904 shares of the company were exchanged, compared to its average volume of 74,845. The stock has a market capitalization of $1.37 billion, a P/E ratio of 27.35, a P/E/G ratio of 1.83 and a beta of 1.31. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.74. The company’s 50-day simple moving average is $48.51 and its 200-day simple moving average is $44.98. Gorman-Rupp has a twelve month low of $30.87 and a twelve month high of $54.26.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $172.83 million during the quarter, compared to the consensus estimate of $174.61 million. Gorman-Rupp had a net margin of 7.41% and a return on equity of 13.49%. As a group, research analysts predict that Gorman-Rupp will post 1.98 earnings per share for the current year.

About Gorman-Rupp

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.