Posted by admin on Apr 29th, 2022
Gorman-Rupp (NYSE:GRC – Get Rating) announced its earnings results on Wednesday. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.05), MarketWatch Earnings reports. Gorman-Rupp had a net margin of 7.89% and a return on equity of 9.65%.
GRC stock opened at $33.17 on Friday. The company has a market capitalization of $865.04 million, a PE ratio of 29.10 and a beta of 0.58. Gorman-Rupp has a one year low of $32.04 and a one year high of $47.12. The company’s 50 day moving average price is $36.23 and its two-hundred day moving average price is $40.05.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 10th. Shareholders of record on Tuesday, February 15th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is presently 59.65%.
Several hedge funds have recently bought and sold shares of GRC. BlackRock Inc. raised its stake in shares of Gorman-Rupp by 3.5% during the fourth quarter. BlackRock Inc. now owns 1,742,345 shares of the industrial products company’s stock worth $77,621,000 after acquiring an additional 58,561 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Gorman-Rupp by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 390,142 shares of the industrial products company’s stock worth $17,380,000 after buying an additional 32,153 shares during the period. State Street Corp increased its stake in shares of Gorman-Rupp by 6.5% in the fourth quarter. State Street Corp now owns 443,611 shares of the industrial products company’s stock worth $19,763,000 after buying an additional 26,993 shares during the period. Legal & General Group Plc increased its stake in shares of Gorman-Rupp by 12.1% in the fourth quarter. Legal & General Group Plc now owns 201,420 shares of the industrial products company’s stock worth $8,973,000 after buying an additional 21,708 shares during the period. Finally, Morgan Stanley increased its stake in shares of Gorman-Rupp by 12.5% in the second quarter. Morgan Stanley now owns 194,394 shares of the industrial products company’s stock worth $6,695,000 after buying an additional 21,675 shares during the period. 56.80% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. Sidoti upgraded shares of Gorman-Rupp from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Monday, February 7th. StockNews.com assumed coverage on shares of Gorman-Rupp in a research report on Thursday, March 31st. They set a “buy” rating for the company.
Gorman-Rupp Company Profile (Get Rating)
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.
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