According to Zacks, “The Gorman-Rupp Company designs, manufactures and sells pumps and related equipment (pump and motor controls) for use in water, wastewater, construction, industrial, petroleum, original equipment, agricultural, fire protection, military and other liquid-handling applications. “
Other research analysts also recently issued reports about the company. Sidoti began coverage on Gorman-Rupp in a report on Tuesday, September 20th. They set a neutral rating and a $30.00 price objective for the company. TheStreet downgraded Gorman-Rupp from a buy rating to a hold rating in a report on Friday, July 29th. Eight research analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and a consensus price target of $17.90.
Gorman-Rupp (NYSEMKT:GRC) opened at 25.50 on Wednesday. The firm has a market capitalization of $665.32 million, a price-to-earnings ratio of 27.60 and a beta of 1.13. The stock’s 50 day moving average price is $26.59 and its 200-day moving average price is $27.29. Gorman-Rupp has a one year low of $21.09 and a one year high of $32.60.
Gorman-Rupp (NYSEMKT:GRC) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. The business earned $96.30 million during the quarter, compared to the consensus estimate of $97.70 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was down 7.3% compared to the same quarter last year. On average, equities research analysts expect that Gorman-Rupp will post $0.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were paid a $0.105 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.42 dividend on an annualized basis and a yield of Infinity. Gorman-Rupp’s dividend payout ratio is 45.65%.
In related news, Director Kenneth R. Reynolds purchased 2,500 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was purchased at an average cost of $27.00 per share, for a total transaction of $67,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Wayne Walston sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $27.31, for a total value of $54,620.00. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently bought and sold shares of GRC. Schwab Charles Investment Management Inc. increased its position in Gorman-Rupp by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 61,371 shares of the company’s stock worth $1,683,000 after buying an additional 840 shares in the last quarter. Paloma Partners Management Co bought a new position in Gorman-Rupp during the second quarter worth $221,000. Guggenheim Capital LLC increased its position in Gorman-Rupp by 31.7% in the second quarter. Guggenheim Capital LLC now owns 56,902 shares of the company’s stock worth $1,561,000 after buying an additional 13,686 shares in the last quarter. Zacks Investment Management bought a new position in Gorman-Rupp during the second quarter worth $981,000. Finally, Hsbc Holdings PLC increased its position in Gorman-Rupp by 14.7% in the second quarter. Hsbc Holdings PLC now owns 10,682 shares of the company’s stock worth $293,000 after buying an additional 1,370 shares in the last quarter.
Gorman-Rupp Company Profile
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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