Gorman-Rupp (NYSE:GRC) Issues Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Gorman-Rupp (NYSE:GRC) issued its earnings results on Friday. The industrial products company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.16, Zacks reports. The firm had revenue of $193.25 million during the quarter, compared to analysts’ expectations of $181.55 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%.

Gorman-Rupp Trading Up 4.3%

GRC traded up $2.98 during trading on Friday, reaching $73.11. The company had a trading volume of 155,719 shares, compared to its average volume of 166,586. The firm’s 50-day simple moving average is $74.96 and its 200 day simple moving average is $77.15. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 2.13 and a beta of 1.32. Gorman-Rupp has a 12-month low of $42.31 and a 12-month high of $92.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81.

Analyst Ratings Changes

Several research analysts have issued reports on GRC shares. Wall Street Zen lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research report on Wednesday, September 9th. Finally, Zacks Research lowered Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Insider Buying and Selling

In other Gorman-Rupp news, VP D. Patrick Wischmeier sold 5,153 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total transaction of $399,975.86. Following the completion of the sale, the vice president directly owned 1,409 shares of the company’s stock, valued at approximately $109,366.58. This represents a 78.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.60% of the company’s stock.

About Gorman-Rupp

Gorman-Rupp Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.

The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.

Founded in 1933 by J.C.