Gorman-Rupp (GRC) Declares $0.18 Dividend

Gorman-Rupp said on April 28, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.70 annualized). Previously, the company paid $0.18 per share.

Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on June 9, 2023.

At the current share price of $24.55 / share, the stock's dividend yield is 2.85%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.86%, the lowest has been 1.33%, and the highest has been 2.94%. The standard deviation of yields is 0.38 (n=236).

The current dividend yield is 2.58 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.80. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.21%, demonstrating that it has increased its dividend over time.

Learn to Harvest Dividends

Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.

What is the Fund Sentiment?

There are 310 funds or institutions reporting positions in Gorman-Rupp. This is a decrease of 17 owner(s) or 5.20% in the last quarter. Average portfolio weight of all funds dedicated to GRC is 0.07%, a decrease of 6.52%. Total shares owned by institutions decreased in the last three months by 0.65% to 19,683K shares. The put/call ratio of GRC is 0.27, indicating a bullish outlook.

Analyst Price Forecast Suggests 57.88% Upside

As of April 24, 2023, the average one-year price target for Gorman-Rupp is 38.76. The forecasts range from a low of 38.38 to a high of $39.90. The average price target represents an increase of 57.88% from its latest reported closing price of 24.55.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Gorman-Rupp is 623MM, an increase of 7.57%. The projected annual non-GAAP EPS is 1.22.

What are Other Shareholders Doing?

Amundi holds 1,155K shares representing 4.41% ownership of the company. In it's prior filing, the firm reported owning 1,156K shares, representing a decrease of 0.14%. The firm decreased its portfolio allocation in GRC by 1.38% over the last quarter.

PEQIX - Pioneer Equity Income Fund : holds 1,097K shares representing 4.19% ownership of the company. In it's prior filing, the firm reported owning 1,101K shares, representing a decrease of 0.34%. The firm increased its portfolio allocation in GRC by 6.44% over the last quarter.

Mechanics Financial holds 1,027K shares representing 3.92% ownership of the company. No change in the last quarter.

Gabelli Funds holds 801K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 803K shares, representing a decrease of 0.25%. The firm increased its portfolio allocation in GRC by 1.26% over the last quarter.

GCASX - The Gabelli Small Cap Growth Fund holds 742K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 744K shares, representing a decrease of 0.27%. The firm decreased its portfolio allocation in GRC by 0.51% over the last quarter.

Gorman-Rupp Background Information
(This description is provided by the company.)

Founded in 1933, The Gorman-Rupp Company is a leading designer, manufacturer and international marketer of pumps and pump systems for use in diverse water, wastewater, construction, dewatering, industrial, petroleum, original equipment, agriculture, fire protection, heating, ventilating and air conditioning (HVAC), military and other liquid-handling applications.

This story originally appeared on Fintel.