StockNews.com upgraded shares of Gorman-Rupp (NYSE:GRC – Free Report) from a buy rating to a strong-buy rating in a research note published on Friday.
Gorman-Rupp Stock Up 0.7 %
Shares of NYSE GRC opened at $42.60 on Friday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.84 and a beta of 0.92. The company’s 50-day simple moving average is $39.64 and its 200-day simple moving average is $38.08. 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 52-week low of $30.47 and a 52-week high of $43.79.
Gorman-Rupp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.185 per share. The ex-dividend date is Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.74%. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18. Gorman-Rupp’s dividend payout ratio is presently 51.03%.
Institutional Inflows and Outflows
About Gorman-Rupp
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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