Gorman-Rupp Co (GRC) Upgraded to “Hold” by Zacks Investment Research
Gorman-Rupp Co (NYSEMKT:GRC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “The Gorman-Rupp Company designs, manufactures and sells pumps and related equipment (pump and motor controls) for use in water, wastewater, construction, industrial, petroleum, original equipment, agricultural, fire protection, military and other liquid-handling applications. “
Separately, TheStreet downgraded Gorman-Rupp from a “b-” rating to a “c+” rating in a research note on Friday, May 12th.
Shares of Gorman-Rupp (NYSEMKT GRC) traded down 1.43% during trading on Tuesday, hitting $24.83. The stock had a trading volume of 28,624 shares. The stock has a 50-day moving average price of $25.72 and a 200 day moving average price of $29.65. Gorman-Rupp has a 12 month low of $22.30 and a 12 month high of $34.45. The company has a market cap of $647.89 million, a P/E ratio of 27.38 and a beta of 1.13.
Gorman-Rupp (NYSEMKT:GRC) last announced its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. The business had revenue of $92.60 million for the quarter, compared to analyst estimates of $95.24 million. Gorman-Rupp had a return on equity of 6.66% and a net margin of 5.47%. The company’s revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. Equities analysts expect that Gorman-Rupp will post $0.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Monday, May 15th were paid a $0.115 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.85%. Gorman-Rupp’s payout ratio is 45.65%.
Hedge funds have recently modified their holdings of the company. KCG Holdings Inc. bought a new stake in shares of Gorman-Rupp during the first quarter worth approximately $208,000. American International Group Inc. increased its position in shares of Gorman-Rupp by 7.0% in the first quarter. American International Group Inc. now owns 10,846 shares of the industrial products company’s stock worth $341,000 after buying an additional 714 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Gorman-Rupp by 9.7% in the first quarter. Janney Montgomery Scott LLC now owns 13,422 shares of the industrial products company’s stock worth $421,000 after buying an additional 1,182 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Gorman-Rupp by 7.1% in the first quarter. Principal Financial Group Inc. now owns 15,043 shares of the industrial products company’s stock worth $472,000 after buying an additional 1,000 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of Gorman-Rupp by 19.0% in the first quarter. Gotham Asset Management LLC now owns 16,994 shares of the industrial products company’s stock worth $534,000 after buying an additional 2,713 shares in the last quarter.
Gorman-Rupp Company Profile
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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