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

Gorman-Rupp Company (The) (NYSE:GRC) declared a quarterly dividend on Friday, July 24th. Investors of record on Friday, August 14th will be paid a dividend of 0.19 per share by the industrial products company on Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 14th.

Gorman-Rupp has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 52 consecutive years. Gorman-Rupp has a payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gorman-Rupp to earn $3.04 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 25.0%.

Gorman-Rupp Stock Performance

Shares of Gorman-Rupp stock opened at $81.76 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.93 and a debt-to-equity ratio of 0.69. Gorman-Rupp has a 52 week low of $39.52 and a 52 week high of $92.78. The firm’s 50 day moving average is $80.75 and its two-hundred day moving average is $69.40. The firm has a market capitalization of $2.16 billion, a P/E ratio of 34.50, a P/E/G ratio of 2.42 and a beta of 1.28.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The business had revenue of $186.07 million during the quarter, compared to the consensus estimate of $188.89 million. Research analysts forecast that Gorman-Rupp will post 2.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Gorman-Rupp

A number of institutional investors and hedge funds have recently made changes to their positions in GRC. Victory Capital Management Inc. grew its holdings in shares of Gorman-Rupp by 211.6% during the fourth quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock worth $39,655,000 after buying an additional 564,000 shares during the last quarter. First Trust Advisors LP raised its stake in Gorman-Rupp by 326.1% during the 1st quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock valued at $32,581,000 after acquiring an additional 401,340 shares during the last quarter. Bank of America Corp DE lifted its position in Gorman-Rupp by 1,056.7% during the 1st quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company’s stock worth $18,778,000 after acquiring an additional 276,101 shares during the period. Amundi acquired a new stake in Gorman-Rupp during the 4th quarter worth approximately $5,942,000. Finally, Needham Investment Management LLC grew its stake in shares of Gorman-Rupp by 30.0% in the 4th quarter. Needham Investment Management LLC now owns 260,000 shares of the industrial products company’s stock valued at $12,415,000 after purchasing an additional 60,000 shares during the last quarter. 59.26% of the stock is owned by hedge funds and other institutional investors.

About Gorman-Rupp

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.