The Gorman-Rupp Company (NYSE:GRC - Get Free Report) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Friday, February 14th will be given a dividend of 0.185 per share by the industrial products company on Monday, March 10th. This represents a $0.74 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, February 14th.
Gorman-Rupp has raised its dividend by an average of 4.5% annually over the last three years and has increased its dividend every year for the last 11 years. Gorman-Rupp has a dividend payout ratio of 32.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Gorman-Rupp to earn $1.98 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 37.4%.
Gorman-Rupp Stock Up 1.6 %
Shares of GRC traded up $0.60 during midday trading on Tuesday, hitting $38.01. The company had a trading volume of 80,635 shares, compared to its average volume of 55,414. Gorman-Rupp has a 1 year low of $30.47 and a 1 year high of $43.79. The firm has a market capitalization of $996.98 million, a P/E ratio of 26.21, a P/E/G ratio of 1.49 and a beta of 0.97. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The company's 50-day simple moving average is $39.55 and its 200-day simple moving average is $39.08.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research note on Friday, November 29th.
Check Out Our Latest Stock Report on GRC
Gorman-Rupp Company Profile
(
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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.
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