Gorman-Rupp (NYSE:GRC) Stock Price Down 10.4%

The Gorman-Rupp Company (NYSE:GRC) shares were down 10.4% during mid-day trading on Thursday . The company traded as low as $32.50 and last traded at $32.68. Approximately 25,047 shares traded hands during trading, a decline of 64% from the average daily volume of 70,530 shares. The stock had previously closed at $36.46.

Gorman-Rupp Trading Down 13.7 %

The stock’s fifty day moving average price is $37.43 and its 200 day moving average price is $34.50. The stock has a market capitalization of $824.62 million, a P/E ratio of 23.85, a PEG ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.35 and a quick ratio of 1.31.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Friday, February 2nd. The industrial products company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. Gorman-Rupp had a net margin of 5.30% and a return on equity of 10.47%. The business had revenue of $160.57 million for the quarter, compared to the consensus estimate of $155.88 million. During the same period in the prior year, the firm earned $0.11 EPS. Research analysts forecast that The Gorman-Rupp Company will post 1.58 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.72 annualized dividend and a yield of 2.29%. Gorman-Rupp’s payout ratio is currently 54.14%.

Institutional Trading of Gorman-Rupp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its position in Gorman-Rupp by 7.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 8,794 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 586 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Gorman-Rupp by 9.3% during the third 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 in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Gorman-Rupp during the third quarter valued at about $300,000. Arizona State Retirement System purchased a new stake in shares of Gorman-Rupp during the third quarter valued at about $221,000. Finally, Jump Financial LLC bought a new stake in shares of Gorman-Rupp in the 3rd quarter valued at about $217,000. 59.26% of the stock is currently owned by institutional investors.

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.