Gorman-Rupp (NYSE:GRC) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

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

Gorman-Rupp Stock Performance

GRC stock traded up $4.68 during midday trading on Friday, reaching $64.23. The stock had a trading volume of 58,527 shares, compared to its average volume of 103,251. The firm has a fifty day simple moving average of $50.54 and a two-hundred day simple moving average of $46.20. Gorman-Rupp has a 52-week low of $30.87 and a 52-week high of $65.31. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.25 and a current ratio of 2.08. The stock has a market cap of $1.69 billion, a PE ratio of 33.54, a P/E/G ratio of 2.00 and a beta of 1.30.

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be paid a $0.19 dividend. 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 (DPR) is 39.79%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a report on Thursday, January 22nd. Wall Street Zen raised shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Gorman-Rupp has an average rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. raised its position in Gorman-Rupp by 1.6% during the 3rd quarter. Raymond James Financial Inc. now owns 31,706 shares of the industrial products company’s stock worth $1,471,000 after buying an additional 496 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Gorman-Rupp by 126.0% in the second quarter. Bank of America Corp DE now owns 45,466 shares of the industrial products company’s stock worth $1,670,000 after acquiring an additional 25,347 shares during the period. Jane Street Group LLC raised its holdings in shares of Gorman-Rupp by 203.0% during the first quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock worth $1,702,000 after purchasing an additional 32,494 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Gorman-Rupp by 105.2% during the third quarter. BNP Paribas Financial Markets now owns 36,890 shares of the industrial products company’s stock valued at $1,712,000 after purchasing an additional 18,914 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Gorman-Rupp by 8.6% in the second quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company’s stock valued at $1,864,000 after purchasing an additional 4,020 shares during the last quarter. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

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.