Gorman-Rupp (NYSE:GRC) Stock Price Up 9.1% on Better-Than-Expected Earnings

Shares of Gorman-Rupp Company (The) (NYSE:GRC) rose 9.1% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $72.16 and last traded at $72.2150. Approximately 18,005 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 145,467 shares. The stock had previously closed at $66.21.

The industrial products company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.19. The business had revenue of $176.59 million during the quarter, compared to analyst estimates of $170.61 million. Gorman-Rupp had a return on equity of 14.06% and a net margin of 7.77%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Gorman-Rupp currently has an average rating of “Buy”.

Institutional Trading of Gorman-Rupp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cerity Partners LLC boosted its stake in Gorman-Rupp by 3.2% in the fourth quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock worth $228,000 after buying an additional 150 shares in the last quarter. Captrust Financial Advisors boosted its stake in Gorman-Rupp by 3.5% in the fourth quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company’s stock worth $233,000 after buying an additional 163 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Gorman-Rupp by 0.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,370 shares of the industrial products company’s stock worth $2,166,000 after buying an additional 203 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Gorman-Rupp by 3.5% in the fourth quarter. D.A. Davidson & CO. now owns 6,706 shares of the industrial products company’s stock worth $320,000 after buying an additional 229 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Gorman-Rupp by 8.5% in the third quarter. SG Americas Securities LLC now owns 3,443 shares of the industrial products company’s stock worth $160,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Performance

The firm has a market cap of $1.96 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 2.20 and a beta of 1.26. The company has a 50 day simple moving average of $64.37 and a 200-day simple moving average of $54.54. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.37 and a quick ratio of 1.39.

Gorman-Rupp Company Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.