Gorman-Rupp (NYSE:GRC) Trading Down 10.4%

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

Gorman-Rupp Price Performance

The stock’s 50-day moving average is $37.43 and its 200 day moving average is $34.50. The stock has a market capitalization of $824.62 million, a PE ratio of 23.85, a P/E/G ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.31 and a current ratio of 2.35.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, February 2nd. The industrial products company reported $0.34 earnings per share (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 analyst estimates of $155.88 million. During the same period last year, the firm posted $0.11 earnings per share. As a group, equities analysts expect 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 paid a $0.18 dividend. 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 dividend payout ratio is currently 54.14%.

Institutional Investors Weigh In On Gorman-Rupp

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Gorman-Rupp by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company’s stock worth $74,230,000 after buying an additional 19,797 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Gorman-Rupp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,321,685 shares of the industrial products company’s stock worth $46,960,000 after acquiring an additional 13,129 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Gorman-Rupp by 2.8% during the 3rd quarter. Gamco Investors INC. ET AL now owns 552,638 shares of the industrial products company’s stock worth $18,182,000 after buying an additional 15,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Gorman-Rupp by 9.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company’s stock worth $17,911,000 after purchasing an additional 46,396 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Gorman-Rupp by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock worth $11,244,000 after acquiring an additional 944 shares in the last quarter. Hedge funds and other institutional investors 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.