Shares of Gorman-Rupp Company (The) (NYSE:GRC – Get Free Report) traded up 5.5% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $75.87 and last traded at $73.9870. 89,337 shares changed hands during trading, a decline of 46% from the average daily volume of 166,287 shares. The stock had previously closed at $70.13.
The industrial products company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.16. The company had revenue of $193.25 million during the quarter, compared to analysts’ expectations of $181.55 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on GRC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, September 9th. Zacks Research cut Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Wall Street Zen downgraded Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.
Read Our Latest Analysis on GRC
Insider Activity at Gorman-Rupp
In other news, VP D. Patrick Wischmeier sold 5,153 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total value of $399,975.86. Following the sale, the vice president directly owned 1,409 shares of the company’s stock, valued at $109,366.58. This represents a 78.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.60% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRC. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Gorman-Rupp during the 2nd quarter valued at about $28,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Gorman-Rupp in the second quarter worth about $36,000. TD Waterhouse Canada Inc. boosted its stake in shares of Gorman-Rupp by 374.0% in the second quarter. TD Waterhouse Canada Inc. now owns 493 shares of the industrial products company’s stock worth $44,000 after buying an additional 389 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Gorman-Rupp by 34.3% in the third quarter. GAMMA Investing LLC now owns 599 shares of the industrial products company’s stock worth $45,000 after buying an additional 153 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of Gorman-Rupp by 849.3% in the third quarter. Sterling Capital Management LLC now owns 712 shares of the industrial products company’s stock worth $53,000 after buying an additional 637 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.
Gorman-Rupp Stock Performance
The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 2.13 and a beta of 1.32. The firm has a fifty day moving average of $74.96 and a 200 day moving average of $77.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.82.
Gorman-Rupp Company Profile
Gorman-Rupp Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.
The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.
Founded in 1933 by J.C.
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