Gorman-Rupp (NYSE:GRC) posted its earnings results on Friday, February 9th. The industrial products company reported $0.31 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.31, Morningstar.com reports. The firm had revenue of $94.94 million for the quarter, compared to analysts’ expectations of $95.39 million. Gorman-Rupp had a return on equity of 10.14% and a net margin of 7.00%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS.
Gorman-Rupp (NYSE:GRC) traded down $0.18 on Friday, reaching $27.52. 27,441 shares of the company’s stock were exchanged, compared to its average volume of 46,127. Gorman-Rupp has a twelve month low of $23.55 and a twelve month high of $33.50. The stock has a market cap of $723.15, a price-to-earnings ratio of 26.98 and a beta of 1.18.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Thursday, February 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is 49.02%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fieldpoint Private Securities LLC acquired a new stake in shares of Gorman-Rupp during the 3rd quarter worth approximately $107,000. Victory Capital Management Inc. acquired a new stake in shares of Gorman-Rupp during the 3rd quarter worth approximately $170,000. First Quadrant L P CA acquired a new stake in shares of Gorman-Rupp during the 4th quarter worth approximately $209,000. Jefferies Group LLC acquired a new stake in shares of Gorman-Rupp during the 4th quarter worth approximately $212,000. Finally, Cigna Investments Inc. New acquired a new stake in shares of Gorman-Rupp during the 4th quarter worth approximately $217,000. 53.66% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, October 31st.
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Gorman-Rupp Company Profile
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.
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