Freedom Capital upgraded shares of Gorman-Rupp (NYSE:GRC – Free Report) to a hold rating in a report published on Monday,Zacks.com reports.
GRC has been the topic of several other reports. Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Finally, Weiss Ratings lowered Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.
Read Our Latest Research Report on GRC
Gorman-Rupp Stock Performance
Gorman-Rupp (NYSE:GRC – Get Free Report) last posted its earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.19. The firm had revenue of $176.59 million for the quarter, compared to analyst estimates of $170.61 million. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%. As a group, research analysts forecast that Gorman-Rupp will post 2.6 earnings per share for the current year.
Gorman-Rupp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.1%. Gorman-Rupp’s payout ratio is currently 34.08%.
Institutional Trading of Gorman-Rupp
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cerity Partners LLC increased its position in shares of Gorman-Rupp by 3.2% in the fourth quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock valued at $228,000 after acquiring an additional 150 shares during the last quarter. Captrust Financial Advisors increased its position in Gorman-Rupp by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company’s stock worth $233,000 after buying an additional 163 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Gorman-Rupp by 1.8% during the first quarter. PNC Financial Services Group Inc. now owns 9,892 shares of the industrial products company’s stock worth $615,000 after buying an additional 176 shares during the last quarter. Fifth Third Bancorp increased its position in Gorman-Rupp by 14.1% during the first quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company’s stock worth $91,000 after buying an additional 180 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Gorman-Rupp by 0.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,370 shares of the industrial products company’s stock worth $2,166,000 after buying an additional 203 shares during the last quarter. 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.
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