Gorman-Rupp (NYSE:GRC) shares hit a new 52-week high and low on Thursday . The company traded as low as $34.63 and last traded at $34.50, with a volume of 1018 shares. The stock had previously closed at $34.27.
Separately, Sidoti raised Gorman-Rupp from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, March 5th.
The company has a market capitalization of $889.71 million, a price-to-earnings ratio of 24.88 and a beta of 1.08.
Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings results on Thursday, April 26th. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Gorman-Rupp had a return on equity of 11.01% and a net margin of 8.11%. The company had revenue of $96.60 million for the quarter, compared to analyst estimates of $97.23 million. During the same quarter in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 33.1% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Tuesday, May 15th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Monday, May 14th.
In other news, CFO James Kerr bought 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $27.88 per share, with a total value of $111,520.00. Following the transaction, the chief financial officer now owns 6,000 shares of the company’s stock, valued at approximately $167,280. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Ronald D. Pittenger bought 4,962 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $27.71 per share, for a total transaction of $137,497.02. Following the completion of the transaction, the vice president now directly owns 4,201 shares in the company, valued at approximately $116,409.71. The disclosure for this purchase can be found here. Corporate insiders own 12.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of GRC. Schwab Charles Investment Management Inc. raised its position in shares of Gorman-Rupp by 4.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 82,931 shares of the industrial products company’s stock worth $2,589,000 after buying an additional 3,527 shares during the period. First Quadrant L P CA purchased a new position in shares of Gorman-Rupp in the 4th quarter worth $209,000. Cigna Investments Inc. New purchased a new position in shares of Gorman-Rupp in the 4th quarter worth $217,000. Dupont Capital Management Corp purchased a new position in shares of Gorman-Rupp in the 4th quarter worth $1,480,000. Finally, Alambic Investment Management L.P. purchased a new position in shares of Gorman-Rupp in the 4th quarter worth $224,000. 53.61% of the stock is currently owned by institutional investors and hedge funds.
Gorman-Rupp Company Profile
The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. 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.
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