The Gorman-Rupp Company (NYSE:GRC – Get Free Report) saw strong trading volume on Friday . 175,399 shares traded hands during trading, an increase of 89% from the previous session’s volume of 92,817 shares.The stock last traded at $41.50 and had previously closed at $40.63.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a report on Friday, July 19th.
View Our Latest Stock Analysis on GRC
Gorman-Rupp Price Performance
Gorman-Rupp (NYSE:GRC – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). Gorman-Rupp had a return on equity of 10.54% and a net margin of 5.52%. The firm had revenue of $159.27 million for the quarter, compared to analyst estimates of $168.49 million. On average, equities research analysts predict that The Gorman-Rupp Company will post 1.66 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Gorman-Rupp
Several hedge funds have recently modified their holdings of the stock. CWM LLC raised its stake in shares of Gorman-Rupp by 76.8% during the second quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 400 shares during the period. Mather Group LLC. increased its stake in Gorman-Rupp by 517.0% during the second quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,339 shares during the last quarter. Lazard Asset Management LLC increased its stake in Gorman-Rupp by 63.8% during the first quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 797 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of Gorman-Rupp during the first quarter worth about $82,000. Finally, Global Retirement Partners LLC grew its position in shares of Gorman-Rupp by 92.2% during the fourth quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company’s stock worth $88,000 after acquiring an additional 1,298 shares during the last quarter. 59.26% of the stock is owned by institutional investors and hedge funds.
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.
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