Gorman-Rupp Co (GRC) Plans Quarterly Dividend of $0.12

Gorman-Rupp Co (NYSEMKT:GRC) declared a quarterly dividend on Friday, July 28th, Wall Street Journal reports. Shareholders of record on Tuesday, August 15th will be paid a dividend of 0.115 per share by the industrial products company on Friday, September 8th. This represents a $0.46 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, August 11th.

Gorman-Rupp (NYSEMKT:GRC) opened at 29.51 on Thursday. The firm has a 50-day moving average price of $27.01 and a 200 day moving average price of $28.47. The company has a market cap of $770.18 million, a P/E ratio of 30.93 and a beta of 1.13. Gorman-Rupp has a 12 month low of $22.30 and a 12 month high of $34.45.

Gorman-Rupp (NYSEMKT:GRC) last released its earnings results on Friday, July 28th. The industrial products company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.13. Gorman-Rupp had a return on equity of 10.14% and a net margin of 8.02%. The firm had revenue of $97.87 million during the quarter, compared to analysts’ expectations of $92.90 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that Gorman-Rupp will post $1.06 earnings per share for the current year.

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A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Tuesday, August 1st. TheStreet cut Gorman-Rupp from a “b-” rating to a “c+” rating in a research note on Friday, May 12th.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.

Dividend History for Gorman-Rupp (NYSEMKT:GRC)

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