Gorman-Rupp Co. (GRC) Coverage Initiated at Sidoti
Research analysts at Sidoti began coverage on shares of Gorman-Rupp Co. (NYSEMKT:GRC) in a research report issued to clients and investors on Tuesday. The brokerage set a “neutral” rating on the stock.
Several other equities analysts also recently issued reports on the stock. TheStreet downgraded shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Zacks Investment Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a report on Monday, August 1st. Seven analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $14.88.
Shares of Gorman-Rupp (NYSEMKT:GRC) traded up 0.62% during trading on Tuesday, reaching $25.93. 7,779 shares of the company traded hands. Gorman-Rupp has a 52 week low of $21.09 and a 52 week high of $32.60. The stock has a market capitalization of $676.54 million, a PE ratio of 28.06 and a beta of 1.13. The firm has a 50 day moving average of $26.87 and a 200 day moving average of $27.36.
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Gorman-Rupp (NYSEMKT:GRC) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $96.30 million for the quarter, compared to analysts’ expectations of $97.70 million. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. On average, equities analysts predict that Gorman-Rupp will post $0.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 15th were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of Infinity. The ex-dividend date of this dividend was Thursday, August 11th. Gorman-Rupp’s dividend payout ratio is currently 45.65%.
In related news, Director W Wayne Walston sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $27.31, for a total transaction of $54,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth R. Reynolds acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were purchased at an average price of $27.00 per share, with a total value of $67,500.00. The disclosure for this purchase can be found here.
A number of large investors have recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD boosted its stake in Gorman-Rupp by 7,787.1% in the first quarter. Mondrian Investment Partners LTD now owns 84,234 shares of the company’s stock valued at $2,184,000 after buying an additional 83,166 shares during the last quarter. Zacks Investment Management purchased a new stake in Gorman-Rupp during the second quarter valued at about $981,000. Spark Investment Management LLC purchased a new stake in Gorman-Rupp during the first quarter valued at about $417,000. Guggenheim Capital LLC boosted its stake in Gorman-Rupp by 31.7% in the second quarter. Guggenheim Capital LLC now owns 56,902 shares of the company’s stock valued at $1,561,000 after buying an additional 13,686 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Gorman-Rupp by 102.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,598 shares of the company’s stock valued at $639,000 after buying an additional 11,916 shares during the last quarter.
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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