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

Gorman-Rupp Company (The) (NYSE:GRC) declared a quarterly dividend on Friday, October 24th. Shareholders 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 yield of 1.7%. The ex-dividend date of this dividend is Friday, November 14th. This is a 2.7% increase from Gorman-Rupp’s previous quarterly dividend of $0.19.

Gorman-Rupp has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 52 years. Gorman-Rupp has a payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Gorman-Rupp to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 33.8%.

Gorman-Rupp Stock Performance

Shares of GRC stock opened at $44.62 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.39 and a debt-to-equity ratio of 0.74. The company has a market cap of $1.17 billion, a PE ratio of 23.36, a P/E/G ratio of 1.71 and a beta of 1.24. The company’s fifty day simple moving average is $45.21 and its 200-day simple moving average is $40.91. Gorman-Rupp has a 52 week low of $30.87 and a 52 week high of $49.24.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $172.83 million for the quarter, compared to analyst estimates of $174.61 million. Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%. As a group, equities research analysts anticipate that Gorman-Rupp will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen LLC bought a new position in Gorman-Rupp in the 1st quarter worth about $3,449,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Gorman-Rupp during the third quarter worth approximately $4,007,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Gorman-Rupp by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 756,083 shares of the industrial products company’s stock worth $26,540,000 after buying an additional 53,006 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Gorman-Rupp by 6.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company’s stock valued at $21,775,000 after acquiring an additional 38,260 shares during the period. Finally, Cooke & Bieler LP increased its position in Gorman-Rupp by 8.5% in the 1st quarter. Cooke & Bieler LP now owns 481,965 shares of the industrial products company’s stock valued at $16,917,000 after acquiring an additional 37,738 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

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.