Gorman-Rupp (GRC) Sets New 52-Week High at $38.18

Gorman-Rupp Co (NYSE:GRC) hit a new 52-week high during trading on Friday . The company traded as high as $38.18 and last traded at $37.84, with a volume of 822 shares trading hands. The stock had previously closed at $37.78.

Separately, ValuEngine raised shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th.

The company has a market cap of $975.73 million, a P/E ratio of 25.24 and a beta of 1.14.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, July 27th. The industrial products company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.08. The firm had revenue of $111.83 million for the quarter, compared to analysts’ expectations of $101.79 million. Gorman-Rupp had a net margin of 8.41% and a return on equity of 11.66%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 EPS.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Wednesday, August 15th were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.32%.

In related news, VP Ronald D. Pittenger sold 4,968 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $37.13, for a total value of $184,461.84. Following the sale, the vice president now directly owns 4,243 shares of the company’s stock, valued at approximately $157,542.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Christopher H. Lake sold 2,000 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $36.69, for a total transaction of $73,380.00. The disclosure for this sale can be found here. 12.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of GRC. Victory Capital Management Inc. grew its stake in Gorman-Rupp by 58.3% in the 1st quarter. Victory Capital Management Inc. now owns 9,049 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 3,333 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Gorman-Rupp by 6.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 88,078 shares of the industrial products company’s stock valued at $2,577,000 after purchasing an additional 5,147 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Gorman-Rupp in the 1st quarter valued at about $441,000. KBC Group NV lifted its holdings in Gorman-Rupp by 28.6% in the 1st quarter. KBC Group NV now owns 51,804 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 11,522 shares in the last quarter. Finally, Heartland Advisors Inc. purchased a new position in Gorman-Rupp in the 1st quarter valued at about $2,264,000. 53.96% of the stock is currently owned by hedge funds and other institutional investors.

About Gorman-Rupp (NYSE:GRC)

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. 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.

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