Gorman-Rupp (NYSE:GRC) posted its earnings results on Friday. The industrial products company reported $0.31 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31, Morningstar.com reports. Gorman-Rupp had a return on equity of 9.72% and a net margin of 6.25%. The business had revenue of $94.94 million during the quarter, compared to analysts’ expectations of $95.39 million. During the same period in the previous year, the business earned $0.23 earnings per share. The firm’s revenue was up .8% on a year-over-year basis.
Gorman-Rupp (GRC) traded up $1.28 during trading on Friday, reaching $28.17. The company had a trading volume of 18,406 shares, compared to its average volume of 42,433. Gorman-Rupp has a twelve month low of $23.55 and a twelve month high of $33.50. The stock has a market capitalization of $725.50, a PE ratio of 29.88 and a beta of 1.18.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Thursday, February 15th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, February 14th. Gorman-Rupp’s payout ratio is 55.56%.
Institutional investors have recently bought and sold shares of the stock. KBC Group NV purchased a new position in shares of Gorman-Rupp in the 3rd quarter worth about $1,232,000. Goldman Sachs Group Inc. boosted its holdings in shares of Gorman-Rupp by 4.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 477,570 shares of the industrial products company’s stock worth $12,163,000 after purchasing an additional 21,977 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Gorman-Rupp by 34.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 17,799 shares of the industrial products company’s stock worth $580,000 after purchasing an additional 4,605 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Gorman-Rupp by 40.2% in the 3rd quarter. First Trust Advisors LP now owns 204,168 shares of the industrial products company’s stock worth $6,650,000 after purchasing an additional 58,562 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Gorman-Rupp by 5.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 79,404 shares of the industrial products company’s stock worth $2,587,000 after purchasing an additional 3,969 shares in the last quarter. Institutional investors and hedge funds own 52.86% of the company’s stock.
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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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