Gorman-Rupp (NYSE:GRC) Shares Gap Down - What's Next?

Key Points

• Gap down: Shares opened down about 5.2% from $71.52 to $67.78 and last traded around $67.73 on light volume (3,556 shares).
• Quarterly results: Gorman-Rupp reported $0.55 EPS, beating estimates by $0.12 while revenue of $166.6M slightly missed consensus, and analysts project about $1.98 EPS for the fiscal year.
• Analyst and shareholder signals: Weiss Ratings reissued a Buy and the consensus is "Buy," while the company pays a $0.19 quarterly dividend (about a 1.1% yield) and ~59% of shares are held by institutions.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $71.52, but opened at $67.78. Gorman-Rupp shares last traded at $67.7260, with a volume of 3,556 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Gorman-Rupp in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Gorman-Rupp has a consensus rating of "Buy".

Gorman-Rupp Stock Down 0.8%

The company has a debt-to-equity ratio of 0.69, a current ratio of 2.37 and a quick ratio of 1.39. The firm's 50-day moving average is $63.99 and its 200 day moving average is $53.69. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.26.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. The firm had revenue of $166.57 million during the quarter, compared to analyst estimates of $167.08 million. Sell-side analysts anticipate that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, February 13th. Gorman-Rupp's payout ratio is currently 37.81%.

Institutional Investors Weigh In On Gorman-Rupp

Institutional investors have recently bought and sold shares of the business. Huntington National Bank purchased a new stake in Gorman-Rupp during the fourth quarter worth approximately $31,000. NewEdge Advisors LLC grew its stake in Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company's stock worth $32,000 after buying an additional 379 shares during the period. Osaic Holdings Inc. grew its stake in Gorman-Rupp by 125.0% during the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company's stock worth $62,000 after buying an additional 939 shares during the period. State of Alaska Department of Revenue purchased a new stake in Gorman-Rupp during the third quarter worth approximately $65,000. Finally, CWM LLC grew its stake in Gorman-Rupp by 47.0% during the third quarter. CWM LLC now owns 1,452 shares of the industrial products company's stock worth $67,000 after buying an additional 464 shares during the period. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

About Gorman-Rupp

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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