The Gorman-Rupp Company (GRC) To Go Ex-Dividend on February 14th

The Gorman-Rupp Company (NYSE:GRC) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Investors of record on Friday, February 14th will be paid a dividend of 0.185 per share by the industrial products company on Monday, March 10th. This represents a $0.74 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, February 14th.

Gorman-Rupp has raised its dividend payment by an average of 4.5% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Gorman-Rupp has a dividend payout ratio of 32.9% indicating that 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 NYSE:GRC opened at $38.01 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. Gorman-Rupp has a fifty-two week low of $30.47 and a fifty-two week high of $43.79. The firm’s 50-day simple moving average is $39.50 and its 200-day simple moving average is $39.07. The company has a market cap of $996.98 million, a price-to-earnings ratio of 26.21, a PEG ratio of 1.49 and a beta of 0.97.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 29th.

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.