Gorman-Rupp Co. (GRC) Now Covered by Analysts at Sidoti
Equities research analysts at Sidoti initiated coverage on shares of Gorman-Rupp Co. (NYSEMKT:GRC) in a report issued on Tuesday. The firm set a “neutral” rating on the stock.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. TheStreet downgraded shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Seven equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.88.
Gorman-Rupp (NYSEMKT:GRC) traded up 0.62% during midday trading on Tuesday, hitting $25.93. The company’s stock had a trading volume of 7,779 shares. The firm has a market cap of $676.54 million, a P/E ratio of 28.06 and a beta of 1.13. The company’s 50 day moving average price is $26.87 and its 200 day moving average price is $27.36. Gorman-Rupp has a 12 month low of $21.09 and a 12 month high of $32.60.
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Gorman-Rupp (NYSEMKT:GRC) last announced its earnings results on Friday, July 29th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The business had revenue of $96.30 million for the quarter, compared to the consensus estimate of $97.70 million. During the same period in the prior year, the business posted $0.25 EPS. Gorman-Rupp’s revenue for the quarter was down 7.3% on a year-over-year basis. Analysts expect 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 dividend of $0.105 per share. 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 presently 45.65%.
In other news, Director W Wayne Walston sold 2,000 shares of Gorman-Rupp stock in a transaction on Friday, August 26th. The shares were sold at an average price of $27.31, for a total transaction of $54,620.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth R. Reynolds purchased 2,500 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were acquired at an average price of $27.00 per share, for a total transaction of $67,500.00. The disclosure for this purchase can be found here.
Several hedge funds and other institutional investors have recently modified their holdings of GRC. Schwab Charles Investment Management Inc. boosted its position in Gorman-Rupp by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 61,371 shares of the company’s stock worth $1,683,000 after buying an additional 840 shares during the period. Paloma Partners Management Co purchased a new position in Gorman-Rupp during the second quarter worth $221,000. Guggenheim Capital LLC boosted its position in Gorman-Rupp by 31.7% in the second quarter. Guggenheim Capital LLC now owns 56,902 shares of the company’s stock worth $1,561,000 after buying an additional 13,686 shares during the period. Zacks Investment Management purchased a new position in Gorman-Rupp during the second quarter worth $981,000. Finally, Hsbc Holdings PLC boosted its position in Gorman-Rupp by 14.7% in the second quarter. Hsbc Holdings PLC now owns 10,682 shares of the company’s stock worth $293,000 after buying an additional 1,370 shares during the period.
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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