Gorman-Rupp Co (GRC) Insider Ronald D. Pittenger Sells 3,104 Shares
Gorman-Rupp Co (NYSEMKT:GRC) insider Ronald D. Pittenger sold 3,104 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $29.96, for a total value of $92,995.84. Following the sale, the insider now owns 3,696 shares in the company, valued at $110,732.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Gorman-Rupp Co (NYSEMKT:GRC) traded up 0.33% during midday trading on Thursday, hitting $30.06. The stock had a trading volume of 37,294 shares. The firm has a market cap of $784.30 million, a price-to-earnings ratio of 31.18 and a beta of 1.13. The firm’s 50 day moving average price is $25.14 and its 200 day moving average price is $26.92. Gorman-Rupp Co has a 52-week low of $21.09 and a 52-week high of $32.60.
Gorman-Rupp (NYSEMKT:GRC) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The firm earned $91.30 million during the quarter, compared to analyst estimates of $102.10 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was down 12.4% on a year-over-year basis. On average, equities research analysts expect that Gorman-Rupp Co will post $0.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of Infinity. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, November 10th. Gorman-Rupp’s payout ratio is presently 45.65%.
A number of large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Gorman-Rupp by 10.8% in the first quarter. BlackRock Inc. now owns 8,102 shares of the company’s stock valued at $210,000 after buying an additional 790 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Gorman-Rupp by 102.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,598 shares of the company’s stock valued at $639,000 after buying an additional 11,916 shares during the last quarter. BlackRock Group LTD boosted its stake in Gorman-Rupp by 4.0% in the first quarter. BlackRock Group LTD now owns 50,408 shares of the company’s stock valued at $1,307,000 after buying an additional 1,920 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Gorman-Rupp by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 119,886 shares of the company’s stock valued at $3,286,000 after buying an additional 6,384 shares during the last quarter. Finally, Park National Corp OH boosted its stake in Gorman-Rupp by 0.6% in the third quarter. Park National Corp OH now owns 101,962 shares of the company’s stock valued at $2,611,000 after buying an additional 598 shares during the last quarter.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a research report on Monday, August 1st. TheStreet downgraded Gorman-Rupp from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Sidoti assumed coverage on Gorman-Rupp in a research report on Tuesday, September 20th. They set a “neutral” rating and a $30.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $17.90.
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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