Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report) VP D Patrick Wischmeier sold 5,153 shares of the company'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 transaction of $399,975.86. Following the sale, the vice president directly owned 1,409 shares of the company's stock, valued at approximately $109,366.58. This trade represents a 78.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Gorman-Rupp Stock Performance
NYSE GRC opened at $76.03 on Friday. The firm's 50 day simple moving average is $81.87 and its 200 day simple moving average is $74.11. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 2.24 and a beta of 1.29. The company has a current ratio of 2.81, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62. Gorman-Rupp Company has a 1 year low of $41.85 and a 1 year high of $92.78.
Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.70 by $0.04. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. The business had revenue of $186.07 million during the quarter, compared to the consensus estimate of $188.89 million. As a group, research analysts expect that Gorman-Rupp Company will post 2.67 earnings per share for the current fiscal year.
Gorman-Rupp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. Gorman-Rupp's payout ratio is 32.07%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Principal Financial Group Inc. acquired a new stake in shares of Gorman-Rupp during the 1st quarter valued at $923,000. First Trust Advisors LP increased its holdings in Gorman-Rupp by 326.1% in the 1st quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company's stock worth $32,581,000 after purchasing an additional 401,340 shares in the last quarter. Cetera Investment Advisers bought a new position in Gorman-Rupp in the first quarter valued at about $983,000. Bank of America Corp DE raised its position in Gorman-Rupp by 1,056.7% in the first quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company's stock valued at $18,778,000 after purchasing an additional 276,101 shares during the last quarter. Finally, PVG Asset Management Corp acquired a new stake in shares of Gorman-Rupp during the first quarter valued at about $844,000. 59.26% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Freedom Capital upgraded Gorman-Rupp to a "hold" rating in a research report on Monday, May 18th. Wall Street Zen cut shares of Gorman-Rupp from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings downgraded shares of Gorman-Rupp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, June 12th. Finally, Zacks Research lowered shares of Gorman-Rupp from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Gorman-Rupp presently has an average rating of "Hold".
Get Our Latest Stock Report on GRC
About Gorman-Rupp
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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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