Gorman-Rupp (NYSE:GRC) Releases Earnings Results

Key Points

• Gorman-Rupp reported earnings of $0.60 per share, beating analysts' estimates of $0.55, and achieved revenue of $179.05 million, exceeding expectations of $174.60 million.
• The company declared a quarterly dividend of $0.185 per share, providing an annualized dividend of $0.74 with a yield of 1.80%.
• Shareholders are responding positively, as Gorman-Rupp's stock price opened at $41.01, reflecting an 8.3% increase following the earnings release.

Gorman-Rupp (NYSE:GRC - Get Free Report) announced its earnings results on Friday. The industrial products company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.05, Zacks reports. Gorman-Rupp had a net margin of 7.69% and a return on equity of 13.84%. The business had revenue of $179.05 million during the quarter, compared to the consensus estimate of $174.60 million.

Gorman-Rupp Stock Performance

NYSE GRC traded up $0.69 during trading hours on Monday, reaching $41.69. The stock had a trading volume of 93,325 shares, compared to its average volume of 53,311. The stock has a fifty day moving average of $37.11 and a 200 day moving average of $36.81. The stock has a market cap of $1.10 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.58 and a beta of 1.17. Gorman-Rupp has a 52-week low of $30.87 and a 52-week high of $43.79. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.42.

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.78%. Gorman-Rupp's payout ratio is 37.56%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th.

Institutional Investors Weigh In On Gorman-Rupp

A number of large investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its position in Gorman-Rupp by 203.0% in the 1st quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company's stock worth $1,702,000 after purchasing an additional 32,494 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Gorman-Rupp by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company's stock valued at $2,278,000 after purchasing an additional 7,667 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Gorman-Rupp by 9.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company's stock worth $9,888,000 after acquiring an additional 25,033 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company's stock.

Gorman-Rupp Company Profile

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.