Gorman-Rupp (NYSE:GRC) Sees Large Volume Increase

The Gorman-Rupp Company (NYSE:GRC) shares saw strong trading volume on Monday . 55,512 shares traded hands during mid-day trading, a decline of 16% from the previous session’s volume of 66,225 shares.The stock last traded at $36.28 and had previously closed at $36.02.

Gorman-Rupp Price Performance

The company has a market capitalization of $963.32 million, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. The company’s 50-day moving average price is $37.41 and its two-hundred day moving average price is $34.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.35 and a quick ratio of 1.31.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, February 2nd. The industrial products company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The company had revenue of $160.57 million for the quarter, compared to analyst estimates of $155.88 million. Gorman-Rupp had a return on equity of 10.47% and a net margin of 5.30%. During the same quarter last year, the company earned $0.11 earnings per share. As a group, sell-side analysts expect that The Gorman-Rupp Company will post 1.58 EPS for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 15th were given a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.96%. Gorman-Rupp’s payout ratio is presently 54.14%.

Hedge Funds Weigh In On Gorman-Rupp

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its position in shares of Gorman-Rupp by 7.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 8,794 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 586 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Gorman-Rupp by 9.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company’s stock valued at $17,911,000 after acquiring an additional 46,396 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Gorman-Rupp in the third quarter worth $300,000. Arizona State Retirement System bought a new position in shares of Gorman-Rupp in the third quarter worth $221,000. Finally, Jump Financial LLC acquired a new position in Gorman-Rupp in the third quarter valued at about $217,000. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Company Profile

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.