TheStreet upgraded shares of Gorman-Rupp Co (NYSEMKT:GRC) from a c+ rating to a b- rating in a research note issued to investors on Monday morning.
Separately, Zacks Investment Research downgraded shares of Gorman-Rupp from a hold rating to a sell rating in a research note on Friday, April 28th.
Gorman-Rupp (GRC) opened at 27.44 on Monday. The company has a market cap of $716.16 million, a price-to-earnings ratio of 28.76 and a beta of 1.13. Gorman-Rupp has a 12-month low of $22.30 and a 12-month high of $34.45. The stock has a 50 day moving average price of $27.65 and a 200-day moving average price of $28.17.
Gorman-Rupp (NYSEMKT:GRC) last announced its earnings results on Friday, July 28th. The industrial products company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.13. The company had revenue of $97.87 million during the quarter, compared to the consensus estimate of $92.90 million. Gorman-Rupp had a net margin of 8.02% and a return on equity of 10.14%. Gorman-Rupp’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. On average, analysts predict that Gorman-Rupp will post $1.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.115 per share. The ex-dividend date is Friday, August 11th. This represents a $0.46 annualized dividend and a dividend yield of 1.68%. Gorman-Rupp’s payout ratio is currently 45.65%.
In other news, Director Christopher H. Lake sold 2,200 shares of Gorman-Rupp stock in a transaction on Friday, August 18th. The shares were sold at an average price of $27.23, for a total transaction of $59,906.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds and other institutional investors have recently bought and sold shares of GRC. Teachers Advisors LLC increased its position in Gorman-Rupp by 20.8% in the fourth quarter. Teachers Advisors LLC now owns 39,137 shares of the industrial products company’s stock worth $1,211,000 after buying an additional 6,727 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Gorman-Rupp by 9.7% in the first quarter. Janney Montgomery Scott LLC now owns 13,422 shares of the industrial products company’s stock worth $421,000 after buying an additional 1,182 shares in the last quarter. Wells Fargo & Company MN increased its position in Gorman-Rupp by 72.0% in the first quarter. Wells Fargo & Company MN now owns 27,825 shares of the industrial products company’s stock worth $874,000 after buying an additional 11,643 shares in the last quarter. Bank of New York Mellon Corp increased its position in Gorman-Rupp by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 154,654 shares of the industrial products company’s stock worth $4,856,000 after buying an additional 6,243 shares in the last quarter. Finally, Parametric Portfolio Associates LLC acquired a new position in Gorman-Rupp during the first quarter worth about $4,574,000.
About Gorman-Rupp
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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