Gorman-Rupp (NYSE:GRC) VP D Patrick Wischmeier Sells 5,153 Shares of Stock

Gorman-Rupp Company (The) (NYSE:GRC) VP D Patrick Wischmeier sold 5,153 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $77.62, for a total transaction of $399,975.86. Following the sale, the vice president directly owned 1,409 shares in the company, valued at $109,366.58. The trade was a 78.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Gorman-Rupp Stock Down 2.0%

GRC traded down $1.55 during midday trading on Friday, reaching $76.03. The company’s stock had a trading volume of 71,887 shares, compared to its average volume of 161,912. Gorman-Rupp Company has a 1 year low of $41.85 and a 1 year high of $92.78. The stock’s 50-day moving average is $82.10 and its 200-day moving average is $74.09. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.24 and a beta of 1.29. The company has a current ratio of 2.81, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. The firm had revenue of $186.07 million during the quarter, compared to analyst estimates of $188.89 million. As a group, research analysts expect that Gorman-Rupp Company will post 2.67 EPS for the current year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Gorman-Rupp’s payout ratio is 32.07%.

Institutional Investors Weigh In On Gorman-Rupp

Large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Gorman-Rupp during the 2nd quarter valued at about $28,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Gorman-Rupp by 374.0% in the second quarter. TD Waterhouse Canada Inc. now owns 493 shares of the industrial products company’s stock worth $44,000 after buying an additional 389 shares during the last quarter. Huntington National Bank bought a new stake in Gorman-Rupp during the fourth quarter valued at approximately $31,000. NewEdge Advisors LLC grew its position in Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock valued at $32,000 after buying an additional 379 shares during the period. Finally, USA Financial Formulas purchased a new stake in Gorman-Rupp during the first quarter valued at approximately $53,000. 59.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings downgraded shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Freedom Capital upgraded shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Finally, Zacks Research cut shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Gorman-Rupp currently has a consensus rating of “Hold”.

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.