Insider Selling: Gorman-Rupp (NYSE:GRC) VP Sells $399,975.86 in Stock

Gorman-Rupp Company (The) (NYSE:GRC) VP D Patrick Wischmeier sold 5,153 shares of the business’s stock in a transaction on 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 in the company, valued at $109,366.58. This represents a 78.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Gorman-Rupp Price Performance

Shares of NYSE GRC opened at $76.03 on Monday. The company has a fifty day moving average price of $81.87 and a 200 day moving average price of $74.17. The firm has a market cap of $2.01 billion, a PE ratio of 32.08, a PEG ratio of 2.20 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 Company has a 1-year low of $41.85 and a 1-year high of $92.78.

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

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 32.07%.

Institutional Investors Weigh In On Gorman-Rupp

A number of institutional investors and hedge funds have recently made changes to their positions in GRC. Goldman Sachs Group Inc. grew its stake in shares of Gorman-Rupp by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock valued at $9,888,000 after buying an additional 25,033 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Gorman-Rupp by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company’s stock worth $2,278,000 after acquiring an additional 7,667 shares in the last quarter. Jane Street Group LLC lifted its stake in Gorman-Rupp by 203.0% in the first quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock valued at $1,702,000 after acquiring an additional 32,494 shares during the last quarter. Rhumbline Advisers lifted its stake in Gorman-Rupp by 17.4% in the second quarter. Rhumbline Advisers now owns 36,865 shares of the industrial products company’s stock valued at $1,354,000 after acquiring an additional 5,462 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Gorman-Rupp by 8.6% in the second quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company’s stock valued at $1,864,000 after acquiring an additional 4,020 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GRC shares. Freedom Capital raised Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Zacks Research downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently 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.