D Patrick Wischmeier Sells 5,153 Shares of Gorman-Rupp (NYSE:GRC) Stock

Key Points

• VP D. Patrick Wischmeier sold 5,153 Gorman-Rupp shares at an average price of $77.62, generating approximately $400,000. The transaction reduced his holdings by 78.53%, leaving him with 1,409 shares.
• Gorman-Rupp recently reported quarterly EPS of $0.74, beating analyst expectations of $0.70, while revenue of $186.07 million fell short of the $188.89 million estimate.
• The company declared a quarterly dividend of $0.19, equivalent to $0.76 annually and a 1.0% yield. Analysts have a consensus “Hold” rating, and the stock recently traded at $76.03.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report) VP D Patrick Wischmeier sold 5,153 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $77.62, for a total value of $399,975.86. Following the completion of the transaction, the vice president owned 1,409 shares in the company, valued at $109,366.58. The trade was a 78.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Gorman-Rupp Stock Performance

Shares of Gorman-Rupp stock traded down $1.55 on Friday, reaching $76.03. 71,887 shares of the company traded hands, compared to its average volume of 161,912. The company has a 50 day moving average of $82.10 and a 200 day moving average of $74.09. 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 has a 52 week low of $41.85 and a 52 week high of $92.78. The firm has a market capitalization of $2.01 billion, a PE ratio of 32.08, a PEG ratio of 2.24 and a beta of 1.29.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.04. The firm had revenue of $186.07 million during the quarter, compared to analyst estimates of $188.89 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. Equities analysts forecast that Gorman-Rupp Company will post 2.67 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Gorman-Rupp's payout ratio is currently 32.07%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GRC. Weiss Ratings cut shares of Gorman-Rupp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, June 12th. Zacks Research lowered shares of Gorman-Rupp from a "strong-buy" rating to a "hold" rating in a research report on Monday. Wall Street Zen cut Gorman-Rupp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Freedom Capital raised Gorman-Rupp to a "hold" rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Institutional Investors Weigh In On Gorman-Rupp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in Gorman-Rupp in the second quarter worth about $28,000. Huntington National Bank purchased a new position in shares of Gorman-Rupp during the 4th quarter worth approximately $31,000. NewEdge Advisors LLC raised its position in shares of Gorman-Rupp by 130.7% in the 4th quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company's stock worth $32,000 after acquiring an additional 379 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Gorman-Rupp by 374.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 493 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 389 shares during the period. Finally, USA Financial Formulas bought a new stake in shares of Gorman-Rupp during the first quarter valued at approximately $53,000. 59.26% of the stock is 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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