Gorman-Rupp Co (GRC) Issues Earnings Results

Gorman-Rupp Co (NYSEMKT:GRC) issued its quarterly earnings results on Friday. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08, Bloomberg Earnings reports. The firm had revenue of $93.98 million during the quarter, compared to analyst estimates of $95.91 million. Gorman-Rupp had a return on equity of 10.14% and a net margin of 8.02%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS.

Gorman-Rupp (NYSEMKT GRC) traded down 1.76% during mid-day trading on Friday, hitting $31.81. The stock had a trading volume of 83,612 shares. The company has a 50-day moving average price of $31.72 and a 200 day moving average price of $28.28. The company has a market cap of $830.21 million, a P/E ratio of 33.34 and a beta of 1.13. Gorman-Rupp has a 1-year low of $22.30 and a 1-year high of $34.45.

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In related news, Director Christopher H. Lake sold 2,200 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $27.23, for a total value of $59,906.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth R. Reynolds acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $28.17 per share, for a total transaction of $70,425.00. The disclosure for this purchase can be found here.

A number of institutional investors and hedge funds have recently bought and sold shares of GRC. Wells Fargo & Company MN lifted its position in Gorman-Rupp by 72.0% in the 1st quarter. Wells Fargo & Company MN now owns 27,825 shares of the industrial products company’s stock valued at $874,000 after acquiring an additional 11,643 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Gorman-Rupp by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 154,654 shares of the industrial products company’s stock valued at $4,856,000 after acquiring an additional 6,243 shares in the last quarter. American International Group Inc. lifted its position in Gorman-Rupp by 7.0% in the 1st quarter. American International Group Inc. now owns 10,846 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 714 shares in the last quarter. Principal Financial Group Inc. lifted its position in Gorman-Rupp by 7.1% in the 1st quarter. Principal Financial Group Inc. now owns 15,043 shares of the industrial products company’s stock valued at $472,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in Gorman-Rupp by 2.5% in the 1st quarter. Teachers Advisors LLC now owns 40,114 shares of the industrial products company’s stock valued at $1,260,000 after acquiring an additional 977 shares in the last quarter.

GRC has been the subject of a number of research reports. Zacks Investment Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Tuesday, August 1st. TheStreet raised Gorman-Rupp from a “c+” rating to a “b-” rating in a research note on Monday, August 21st.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.

Earnings History for Gorman-Rupp (NYSEMKT:GRC)

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