Gorman-Rupp (NYSE:GRC) Releases Earnings Results, Misses Estimates By $0.05 EPS

Gorman-Rupp (NYSE:GRC) released its quarterly earnings data on Thursday. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05), reports. Gorman-Rupp had a net margin of 5.52% and a return on equity of 10.60%. The company had revenue of $159.27 million during the quarter, compared to analysts’ expectations of $168.49 million.

Gorman-Rupp Stock Performance

GRC stock opened at $33.35 on Friday. The firm has a market cap of $874.44 million, a P/E ratio of 24.17, a P/E/G ratio of 1.53 and a beta of 0.92. The stock’s 50 day simple moving average is $37.29 and its 200 day simple moving average is $34.48. The company has a current ratio of 2.35, a quick ratio of 1.31 and a debt-to-equity ratio of 1.09. Gorman-Rupp has a 12-month low of $23.62 and a 12-month high of $40.00.

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.16%. Gorman-Rupp’s dividend payout ratio (DPR) is 52.17%.

Institutional Investors Weigh In On Gorman-Rupp

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in Gorman-Rupp by 9.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company’s stock valued at $17,911,000 after purchasing an additional 46,396 shares during the period. Assenagon Asset Management S.A. lifted its position in Gorman-Rupp by 380.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,854 shares of the industrial products company’s stock valued at $1,558,000 after purchasing an additional 34,728 shares during the last quarter. Vanguard Group Inc. lifted its position in Gorman-Rupp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company’s stock valued at $74,230,000 after purchasing an additional 19,797 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in Gorman-Rupp during the 4th quarter valued at about $640,000. Finally, ClariVest Asset Management LLC bought a new position in Gorman-Rupp in the 3rd quarter worth about $589,000. Institutional investors own 59.26% of the company’s stock.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. 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.