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

Gorman-Rupp (NYSE:GRC) announced its quarterly earnings results on Friday. The industrial products company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.12, Zacks reports. The company had revenue of $166.57 million for the quarter, compared to the consensus estimate of $167.08 million. Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%.

Gorman-Rupp Stock Performance

GRC opened at $65.85 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.74. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.04 and a beta of 1.30. Gorman-Rupp has a 52-week low of $30.87 and a 52-week high of $66.23. The firm’s fifty day simple moving average is $50.93 and its two-hundred day simple moving average is $46.40.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, February 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. Gorman-Rupp’s dividend payout ratio is currently 39.79%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GRC. Osaic Holdings Inc. boosted its holdings in Gorman-Rupp by 125.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after buying an additional 939 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Gorman-Rupp by 135.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 1,180 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Gorman-Rupp by 14.4% in the third quarter. Quantbot Technologies LP now owns 2,980 shares of the industrial products company’s stock worth $138,000 after acquiring an additional 376 shares during the last quarter. State of Tennessee Department of Treasury purchased a new stake in shares of Gorman-Rupp during the second quarter worth approximately $180,000. Finally, Sei Investments Co. purchased a new stake in shares of Gorman-Rupp during the second quarter worth approximately $215,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Gorman-Rupp from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed 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, Based on data from MarketBeat.com, Gorman-Rupp presently has an average rating of “Buy”.

About Gorman-Rupp

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.