Gorman-Rupp (NYSE:GRC) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Gorman-Rupp (NYSE:GRC) issued its quarterly earnings data on Thursday. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.16, Zacks reports. Gorman-Rupp had a return on equity of 14.06% and a net margin of 7.77%.

Gorman-Rupp Price Performance

NYSE:GRC traded up $7.16 during midday trading on Thursday, hitting $73.37. 53,761 shares of the stock were exchanged, compared to its average volume of 146,036. Gorman-Rupp has a one year low of $33.37 and a one year high of $74.21. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 36.50, a P/E/G ratio of 2.22 and a beta of 1.26. The business has a 50-day moving average price of $64.21 and a two-hundred day moving average price of $54.40. The company has a current ratio of 2.37, a quick ratio of 1.39 and a debt-to-equity ratio of 0.69.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 13th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.76 annualized dividend and a yield of 1.0%. Gorman-Rupp’s payout ratio is presently 37.81%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Gorman-Rupp has an average rating of “Buy”.

Institutional Investors Weigh In On Gorman-Rupp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in Gorman-Rupp by 3.2% during 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 in the last quarter. Captrust Financial Advisors raised its holdings in Gorman-Rupp by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 163 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Gorman-Rupp by 0.4% during the fourth 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 purchasing an additional 203 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Gorman-Rupp by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 7,961 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 276 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in Gorman-Rupp by 14.4% during the third quarter. Quantbot Technologies LP now owns 2,980 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 376 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

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.