The Gorman-Rupp Company Plans Quarterly Dividend of $0.18 (NYSE:GRC)

The Gorman-Rupp Company (NYSE:GRC) declared a quarterly dividend on Friday, April 26th, Zacks reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.18 per share by the industrial products company on Monday, June 10th. This represents a $0.72 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, May 14th.

Gorman-Rupp has raised its dividend payment by an average of 6.1% per year over the last three years and has raised its dividend annually for the last 51 consecutive years. Gorman-Rupp has a payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Gorman-Rupp to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 38.5%.

Gorman-Rupp Stock Up 6.1 %

Shares of GRC traded up $1.93 during trading hours on Friday, reaching $33.38. 186,201 shares of the stock traded hands, compared to its average volume of 91,410. Gorman-Rupp has a 52 week low of $23.62 and a 52 week high of $40.00. The company has a market cap of $875.16 million, a price-to-earnings ratio of 24.19, a PEG ratio of 1.53 and a beta of 0.92. The stock has a fifty day simple moving average of $37.29 and a 200 day simple moving average of $34.48. The company has a current ratio of 2.35, a quick ratio of 1.31 and a debt-to-equity ratio of 1.09.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The firm had revenue of $159.27 million for the quarter, compared to the consensus estimate of $168.49 million. Gorman-Rupp had a return on equity of 10.60% and a net margin of 5.52%. On average, equities analysts forecast that Gorman-Rupp will post 1.58 EPS for the current year.

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.