Gorman-Rupp (NYSE:GRC) Sees Large Volume Increase

The Gorman-Rupp Company (NYSE:GRC) shares saw unusually-strong trading volume on Friday . Approximately 244,837 shares were traded during mid-day trading, an increase of 211% from the previous session’s volume of 78,800 shares.The stock last traded at $32.53 and had previously closed at $32.49.

Gorman-Rupp Price Performance

The company has a current ratio of 2.32, a quick ratio of 1.31 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $857.33 million, a P/E ratio of 23.70, a PEG ratio of 1.63 and a beta of 0.97. The company has a fifty day simple moving average of $36.81 and a two-hundred day simple moving average of $34.51.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $159.27 million for the quarter, compared to analyst estimates of $168.49 million. Gorman-Rupp had a return on equity of 10.54% and a net margin of 5.52%. Sell-side analysts expect that The Gorman-Rupp Company will post 1.55 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, May 14th. Gorman-Rupp’s dividend payout ratio is currently 52.17%.

Hedge Funds Weigh In On Gorman-Rupp

Several institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its position in shares of Gorman-Rupp by 7.1% during the third quarter. Commonwealth Equity Services LLC now owns 8,794 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 586 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Gorman-Rupp by 9.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company’s stock worth $17,911,000 after buying an additional 46,396 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Gorman-Rupp in the 3rd quarter valued at approximately $300,000. Arizona State Retirement System acquired a new position in Gorman-Rupp during the 3rd quarter worth approximately $221,000. Finally, Jump Financial LLC bought a new position in shares of Gorman-Rupp during the 3rd quarter worth approximately $217,000. Institutional investors own 59.26% of the company’s stock.

About Gorman-Rupp

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.