Gorman-Rupp Co (NYSE:GRC) to Issue Quarterly Dividend of $0.15

Gorman-Rupp Co (NYSE:GRC) declared a quarterly dividend on Friday, October 25th, Zacks reports. Investors of record on Friday, November 15th will be given a dividend of 0.145 per share by the industrial products company on Tuesday, December 10th. This represents a $0.58 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, November 14th. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.14.

Shares of GRC stock traded up $0.39 during trading on Tuesday, hitting $36.62. The company had a trading volume of 450 shares, compared to its average volume of 55,064. The stock’s 50-day moving average is $35.33 and its two-hundred day moving average is $32.50. The stock has a market capitalization of $958.45 million, a price-to-earnings ratio of 25.38 and a beta of 0.97. Gorman-Rupp has a 52 week low of $29.00 and a 52 week high of $38.00.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings results on Friday, October 25th. The industrial products company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). The company had revenue of $99.30 million during the quarter, compared to the consensus estimate of $101.86 million. Gorman-Rupp had a return on equity of 12.52% and a net margin of 9.07%. Gorman-Rupp’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS.

In related news, Director Christopher H. Lake sold 2,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $36.46, for a total value of $72,920.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 12.40% of the stock is owned by corporate insiders.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. 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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Dividend History for Gorman-Rupp (NYSE:GRC)

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