Gorman-Rupp (NYSE:GRC) Releases Quarterly Earnings Results

Gorman-Rupp (NYSE:GRCGet Free Report) released its earnings results on Friday. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04, Zacks reports. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%.The firm had revenue of $186.07 million for the quarter, compared to analysts’ expectations of $188.89 million.

Gorman-Rupp Stock Performance

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

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.19 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a yield of 0.9%. Gorman-Rupp’s payout ratio is currently 34.08%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings downgraded Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Finally, Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy”.

View Our Latest Stock Report on Gorman-Rupp

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GRC. Cerity Partners LLC grew its holdings in Gorman-Rupp by 3.2% in the fourth quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 150 shares during the last quarter. Captrust Financial Advisors grew its stake in Gorman-Rupp by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company’s stock worth $233,000 after buying an additional 163 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Gorman-Rupp by 0.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,370 shares of the industrial products company’s stock worth $2,166,000 after buying an additional 203 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Gorman-Rupp by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,961 shares of the industrial products company’s stock valued at $292,000 after buying an additional 276 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in Gorman-Rupp by 14.4% during the 3rd quarter. Quantbot Technologies LP now owns 2,980 shares of the industrial products company’s stock valued at $138,000 after buying an additional 376 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Key Stories Impacting Gorman-Rupp

Here are the key news stories impacting Gorman-Rupp this week:

Gorman-Rupp Company Profile

(Get Free Report)

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.

Recommended Stories

Earnings History for Gorman-Rupp (NYSE:GRC)

Receive News & Ratings for Gorman-Rupp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gorman-Rupp and related companies with MarketBeat.com's FREE daily email newsletter.