Shares of Gorman-Rupp Company (The) (NYSE:GRC – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $77.91, but opened at $81.00. Gorman-Rupp shares last traded at $81.4150, with a volume of 7,782 shares changing hands.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Weiss Ratings raised shares of Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 28th. Finally, Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy”.
View Our Latest Stock Report on Gorman-Rupp
Gorman-Rupp Stock Down 0.8%
Gorman-Rupp (NYSE:GRC – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.19. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The business had revenue of $176.59 million for the quarter, compared to analyst estimates of $170.61 million. As a group, equities research analysts predict that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.
Gorman-Rupp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, May 15th. Gorman-Rupp’s dividend payout ratio (DPR) is 34.08%.
Institutional Investors Weigh In On Gorman-Rupp
Several hedge funds have recently bought and sold shares of GRC. Victory Capital Management Inc. lifted its stake in Gorman-Rupp by 211.6% in the 4th quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock valued at $39,655,000 after purchasing an additional 564,000 shares during the last quarter. First Trust Advisors LP lifted its stake in Gorman-Rupp by 326.1% in the 1st quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock valued at $32,581,000 after purchasing an additional 401,340 shares during the last quarter. Bank of America Corp DE lifted its stake in Gorman-Rupp by 1,056.7% in the 1st quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company’s stock valued at $18,778,000 after purchasing an additional 276,101 shares during the last quarter. Amundi acquired a new stake in Gorman-Rupp in the 4th quarter valued at about $5,942,000. Finally, Needham Investment Management LLC lifted its stake in Gorman-Rupp by 30.0% in the 4th quarter. Needham Investment Management LLC now owns 260,000 shares of the industrial products company’s stock valued at $12,415,000 after purchasing an additional 60,000 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.
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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