Gorman-Rupp (NYSE:GRC) Releases Earnings Results, Beats Expectations By $0.12 EPS

Gorman-Rupp (NYSE:GRC) posted its earnings results on Friday. The industrial products company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12, Zacks reports. The firm had revenue of $166.57 million for the quarter, compared to analyst estimates of $167.08 million. Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%.

Gorman-Rupp Trading Up 7.9%

NYSE GRC traded up $4.68 during trading on Friday, hitting $64.23. The stock had a trading volume of 58,527 shares, compared to its average volume of 103,251. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $1.69 billion, a PE ratio of 33.54, a PEG ratio of 2.00 and a beta of 1.30. The firm has a 50 day moving average price of $50.54 and a 200 day moving average price of $46.20. Gorman-Rupp has a twelve month low of $30.87 and a twelve month high of $65.31.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. Gorman-Rupp’s payout ratio is presently 39.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GRC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Institutional Investors Weigh In On Gorman-Rupp

A number of hedge funds have recently bought and sold shares of GRC. CANADA LIFE ASSURANCE Co increased its stake in shares of Gorman-Rupp by 8.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 15,753 shares of the industrial products company’s stock worth $580,000 after buying an additional 1,190 shares during the period. Polymer Capital Management US LLC increased its position in shares of Gorman-Rupp by 15.6% in the 3rd quarter. Polymer Capital Management US LLC now owns 8,932 shares of the industrial products company’s stock valued at $415,000 after purchasing an additional 1,206 shares during the last quarter. Creative Planning raised its holdings in shares of Gorman-Rupp by 20.5% in the 3rd quarter. Creative Planning now owns 8,779 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 1,493 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Gorman-Rupp during the 3rd quarter worth $307,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Gorman-Rupp during the second quarter worth $293,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.