Gorman-Rupp (NYSE:GRC) Sees Unusually-High Trading Volume

Shares of The Gorman-Rupp Company (NYSE:GRC - Get Free Report) saw an uptick in trading volume on Monday . 55,512 shares changed hands during mid-day trading, a decline of 16% from the previous session's volume of 66,225 shares.The stock last traded at $36.28 and had previously closed at $36.02.

Gorman-Rupp Trading Down 0.2 %

The company has a quick ratio of 1.31, a current ratio of 2.35 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $942.67 million, a P/E ratio of 27.03, a P/E/G ratio of 1.75 and a beta of 0.92. The firm's 50 day simple moving average is $37.41 and its two-hundred day simple moving average is $34.46.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its quarterly earnings data on Friday, February 2nd. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. The firm had revenue of $160.57 million during the quarter, compared to analysts' expectations of $155.88 million. Gorman-Rupp had a net margin of 5.30% and a return on equity of 10.47%. During the same period last year, the company earned $0.11 earnings per share. As a group, analysts forecast that The Gorman-Rupp Company will post 1.58 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, February 14th. Gorman-Rupp's dividend payout ratio is currently 54.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GRC. Gamco Investors INC. ET AL boosted its holdings in Gorman-Rupp by 2.8% during the third quarter. Gamco Investors INC. ET AL now owns 552,638 shares of the industrial products company's stock worth $18,182,000 after purchasing an additional 15,300 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Gorman-Rupp by 380.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,854 shares of the industrial products company's stock valued at $1,558,000 after acquiring an additional 34,728 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Gorman-Rupp by 92.2% in the fourth quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company's stock valued at $88,000 after acquiring an additional 1,298 shares during the last quarter. Vanguard Group Inc. boosted its stake in Gorman-Rupp by 0.9% in the third quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company's stock valued at $74,230,000 after acquiring an additional 19,797 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Gorman-Rupp by 9.3% in the third 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 acquiring an additional 46,396 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.

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.