Gorman-Rupp (GRC) Set to Announce Quarterly Earnings on Thursday

Gorman-Rupp (NYSE:GRC) will be posting its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Gorman-Rupp to post earnings of $0.35 per share for the quarter.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Friday, February 2nd. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. Gorman-Rupp had a return on equity of 10.47% and a net margin of 5.30%. The company had revenue of $160.57 million for the quarter, compared to analysts’ expectations of $155.88 million. During the same period last year, the firm earned $0.11 earnings per share. On average, analysts expect Gorman-Rupp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Gorman-Rupp Stock Performance

Shares of GRC opened at $36.06 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.35 and a quick ratio of 1.31. Gorman-Rupp has a one year low of $23.22 and a one year high of $40.00. The company has a 50-day simple moving average of $37.43 and a two-hundred day simple moving average of $34.36. The firm has a market capitalization of $945.49 million, a PE ratio of 27.11, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.00%. Gorman-Rupp’s payout ratio is 54.14%.

Hedge Funds Weigh In On Gorman-Rupp

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of Gorman-Rupp by 16.5% during the first quarter. Bank of New York Mellon Corp now owns 411,328 shares of the industrial products company’s stock valued at $14,759,000 after acquiring an additional 58,348 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Gorman-Rupp during the 1st quarter valued at about $77,000. MetLife Investment Management LLC raised its position in shares of Gorman-Rupp by 63.2% during the 1st quarter. MetLife Investment Management LLC now owns 11,912 shares of the industrial products company’s stock valued at $427,000 after buying an additional 4,612 shares in the last quarter. Vanguard Group Inc. grew its holdings in Gorman-Rupp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 2,083,871 shares of the industrial products company’s stock valued at $74,769,000 after purchasing an additional 8,477 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Gorman-Rupp by 15.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 185,924 shares of the industrial products company’s stock valued at $6,671,000 after purchasing an additional 25,075 shares during the last quarter. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

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.