Gorman-Rupp (NYSE:GRC) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Gorman-Rupp (NYSE:GRC) announced its quarterly earnings data on Thursday. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05), reports. The firm had revenue of $159.27 million during 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 Trading Up 6.0 %

GRC opened at $33.35 on Friday. The firm’s fifty day simple moving average is $37.29 and its 200 day simple moving average is $34.48. The stock has a market capitalization of $874.44 million, a P/E ratio of 24.17, a P/E/G ratio of 1.53 and a beta of 0.92. The company has a current ratio of 2.35, a quick ratio of 1.31 and a debt-to-equity ratio of 1.09. Gorman-Rupp has a 12 month low of $23.62 and a 12 month high of $40.00.

Gorman-Rupp Announces Dividend

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

Institutional Trading of Gorman-Rupp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 worth $17,911,000 after buying an additional 46,396 shares during the period. Assenagon Asset Management S.A. raised its position in Gorman-Rupp by 380.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,854 shares of the industrial products company’s stock valued at $1,558,000 after buying an additional 34,728 shares during the last quarter. Vanguard Group Inc. lifted its stake 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. Livelsberger Financial Advisory acquired a new position in Gorman-Rupp during the 4th quarter worth approximately $640,000. Finally, ClariVest Asset Management LLC bought a new position in shares of Gorman-Rupp during the 3rd quarter worth approximately $589,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

About Gorman-Rupp

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.