The Gorman-Rupp Company (GRC) in Mansfield, Ohio, designs, manufactures and sells a vast array of innovative pumps and pump systems for water, wastewater, construction, industrial, municipal, petroleum, original equipment, agriculture, and fire suppression applications worldwide. GRC shares have gained 15.5% in price over the past year but have declined 11.1% over the past month. The stock gained 1.6% intraday to close yesterday’s trading session at $37.19. The 12-month median price target of $46.00 indicates a 23.7% potential upside.
GRC’s $0.68 annual dividend yields 1.85% at its current share price. On January 28, GRC declared a $0.17 per share quarterly dividend on the company’s common stock, payable March 10, 2022, to shareholders of record as of Feb.15, 2022, which will mark the 288th consecutive quarterly dividend paid by GRC. Last October, the company increased its quarterly dividend by 9.7% to $0.17, marking its 49th consecutive year of increased dividends. This positions GRC in the top 50 of all U.S. public companies considering its number of years of increased dividend payments. The company’s dividend payouts have grown at a 7.7% CAGR over the past three years and 8.1% over the past five years.
