Gorman-Rupp (NYSE:GRC) VP D Patrick Wischmeier Sells 5,153 Shares of Stock

Gorman-Rupp Company (The) (NYSE:GRC) VP D Patrick Wischmeier sold 5,153 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total transaction of $399,975.86. Following the completion of the transaction, the vice president directly owned 1,409 shares in the company, valued at $109,366.58. The trade was a 78.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Gorman-Rupp Stock Performance

NYSE GRC opened at $76.03 on Friday. The stock has a market cap of $2.01 billion, a PE ratio of 32.08, a P/E/G ratio of 2.24 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81. The firm has a 50-day moving average of $81.87 and a 200-day moving average of $74.11. Gorman-Rupp Company has a 52-week low of $41.85 and a 52-week high of $92.78.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $186.07 million for the quarter, compared to analyst estimates of $188.89 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. On average, sell-side analysts anticipate that Gorman-Rupp Company will post 2.67 EPS for the current year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. Gorman-Rupp’s payout ratio is currently 32.07%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GRC. California State Teachers Retirement System raised its position in shares of Gorman-Rupp by 10,550.6% in the second quarter. California State Teachers Retirement System now owns 2,180,385 shares of the industrial products company’s stock valued at $200,029,000 after buying an additional 2,159,913 shares in the last quarter. BlackRock Inc. acquired a new position in Gorman-Rupp in the 2nd quarter valued at $165,116,000. Victory Capital Management Inc. lifted its position in shares of Gorman-Rupp by 211.6% during the 4th quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock valued at $39,655,000 after acquiring an additional 564,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Gorman-Rupp by 2.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 753,862 shares of the industrial products company’s stock worth $34,985,000 after purchasing an additional 15,178 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Gorman-Rupp by 0.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 599,520 shares of the industrial products company’s stock worth $28,627,000 after purchasing an additional 2,970 shares during the period. 59.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

GRC has been the topic of a number of recent research reports. Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Wall Street Zen lowered Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research cut Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Freedom Capital raised Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

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.