Gorman-Rupp (NYSE:GRC) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Gorman-Rupp (NYSE:GRC) released its earnings results on Friday. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06), reports. Gorman-Rupp had a return on equity of 11.39% and a net margin of 5.20%. The firm had revenue of $168.18 million during the quarter, compared to the consensus estimate of $170.81 million.

Gorman-Rupp Stock Down 1.9 %

NYSE:GRC opened at $37.36 on Monday. The stock has a fifty day simple moving average of $38.22 and a 200-day simple moving average of $36.98. The company has a current ratio of 2.45, a quick ratio of 1.44 and a debt-to-equity ratio of 1.05. The company has a market cap of $979.24 million, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. Gorman-Rupp has a twelve month low of $28.87 and a twelve month high of $42.24.

Gorman-Rupp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.185 dividend. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.98%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 53.62%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Robeco Schweiz AG purchased a new position in shares of Gorman-Rupp during the second quarter worth approximately $7,876,000. Assenagon Asset Management S.A. lifted its holdings in shares of Gorman-Rupp by 44.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 79,770 shares of the industrial products company’s stock worth $3,107,000 after buying an additional 24,683 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Gorman-Rupp by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock worth $4,434,000 after buying an additional 20,689 shares during the period. Cooke & Bieler LP grew its position in shares of Gorman-Rupp by 3.3% during the 2nd quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock worth $20,683,000 after buying an additional 17,977 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Gorman-Rupp by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock valued at $49,156,000 after buying an additional 17,340 shares during the period. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.