Gorman-Rupp Co (NYSEMKT:GRC) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Friday, May 12th.
Separately, Zacks Investment Research lowered shares of Gorman-Rupp from a “hold” rating to a “sell” rating in a research report on Friday, April 28th.
Gorman-Rupp (NYSEMKT GRC) traded up 2.69% on Friday, reaching $27.15. 239,597 shares of the company’s stock traded hands. Gorman-Rupp has a 12 month low of $22.30 and a 12 month high of $34.45. The firm has a market cap of $708.43 million, a PE ratio of 29.93 and a beta of 1.13. The firm’s 50-day moving average is $25.79 and its 200 day moving average is $29.70.
Gorman-Rupp (NYSEMKT:GRC) last posted its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The company had revenue of $92.60 million during the quarter, compared to analyst estimates of $95.24 million. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities analysts predict that Gorman-Rupp will post $0.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Monday, May 15th were given a dividend of $0.115 per share. The ex-dividend date was Thursday, May 11th. This represents a $0.46 annualized dividend and a dividend yield of 1.69%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 45.65%.
Several hedge funds have recently modified their holdings of GRC. Dimensional Fund Advisors LP raised its stake in shares of Gorman-Rupp by 99.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,692,418 shares of the industrial products company’s stock valued at $53,142,000 after buying an additional 843,467 shares during the period. Vanguard Group Inc. raised its stake in shares of Gorman-Rupp by 6.9% in the first quarter. Vanguard Group Inc. now owns 1,561,859 shares of the industrial products company’s stock valued at $49,042,000 after buying an additional 100,245 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Gorman-Rupp by 114.2% in the first quarter. Goldman Sachs Group Inc. now owns 455,593 shares of the industrial products company’s stock valued at $14,306,000 after buying an additional 242,926 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Gorman-Rupp by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 154,654 shares of the industrial products company’s stock valued at $4,856,000 after buying an additional 6,243 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Gorman-Rupp during the first quarter valued at $4,574,000.
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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