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

Gorman-Rupp Company (The) (NYSE:GRC) announced a quarterly dividend on Friday, October 24th. Investors of record on Friday, November 14th will be given a dividend of 0.19 per share by the industrial products company on Wednesday, December 10th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, November 14th. This is a 2.7% increase from Gorman-Rupp’s previous quarterly dividend of $0.19.

Gorman-Rupp has a dividend payout ratio of 31.1% 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 $0.74 annual dividend with an expected future payout ratio of 32.9%.

Gorman-Rupp Price Performance

GRC opened at $46.39 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.80. Gorman-Rupp has a 12 month low of $30.87 and a 12 month high of $49.24. The company has a fifty day simple moving average of $44.56 and a 200 day simple moving average of $39.87. The stock has a market cap of $1.22 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.76 and a beta of 1.22.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Gorman-Rupp had a net margin of 7.69% and a return on equity of 13.63%. The firm had revenue of $172.83 million during the quarter, compared to the consensus estimate of $174.61 million. On average, research analysts expect that Gorman-Rupp will post 1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

GRC has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research report on Saturday. Wall Street Zen cut Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

About Gorman-Rupp

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.