Gorman-Rupp (NYSE:GRC) Posts Earnings Results, Misses Expectations By $0.05 EPS

Gorman-Rupp (NYSE:GRC) announced its earnings results on Thursday. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05), reports. The firm had revenue of $159.27 million for the quarter, compared to analyst estimates of $168.49 million. Gorman-Rupp had a return on equity of 10.60% and a net margin of 5.52%.

Gorman-Rupp Price Performance

GRC traded up $1.93 during midday trading on Friday, hitting $33.38. The company had a trading volume of 186,201 shares, compared to its average volume of 91,410. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.31 and a current ratio of 2.35. The company has a market capitalization of $875.22 million, a PE ratio of 24.19, a P/E/G ratio of 1.63 and a beta of 0.92. Gorman-Rupp has a twelve month low of $23.62 and a twelve month high of $40.00. The firm’s 50-day simple moving average is $37.20 and its 200-day simple moving average is $34.48.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, May 14th. Gorman-Rupp’s payout ratio is presently 52.17%.

Institutional Investors Weigh In On Gorman-Rupp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Gorman-Rupp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company’s stock valued at $74,230,000 after acquiring an additional 19,797 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Gorman-Rupp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,321,685 shares of the industrial products company’s stock valued at $46,960,000 after purchasing an additional 13,129 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Gorman-Rupp by 2.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 552,638 shares of the industrial products company’s stock valued at $18,182,000 after purchasing an additional 15,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Gorman-Rupp by 9.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company’s stock valued at $17,911,000 after purchasing an additional 46,396 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Gorman-Rupp by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock valued at $11,244,000 after purchasing an additional 944 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

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.