Gorman-Rupp Co (NYSE:GRC) Director Christopher H. Lake sold 2,000 shares of the company’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $36.69, for a total transaction of $73,380.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of Gorman-Rupp stock opened at $36.99 on Friday. The firm has a market capitalization of $966.33 million, a price-to-earnings ratio of 25.00 and a beta of 1.13. Gorman-Rupp Co has a 52-week low of $26.53 and a 52-week high of $38.07.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Friday, July 27th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.08. The firm had revenue of $111.83 million for the quarter, compared to analyst estimates of $101.79 million. Gorman-Rupp had a net margin of 8.41% and a return on equity of 11.66%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Wednesday, August 15th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, August 14th.

Separately, ValuEngine upgraded shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th.

A number of institutional investors have recently made changes to their positions in the business. Global X Management Co LLC increased its holdings in Gorman-Rupp by 19.0% in the 2nd quarter. Global X Management Co LLC now owns 11,262 shares of the industrial products company’s stock valued at $394,000 after buying an additional 1,795 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Gorman-Rupp in the 2nd quarter valued at $203,000. Macquarie Group Ltd. increased its holdings in Gorman-Rupp by 1,856.6% in the 2nd quarter. Macquarie Group Ltd. now owns 9,783 shares of the industrial products company’s stock valued at $342,000 after buying an additional 9,283 shares during the period. Renaissance Technologies LLC increased its holdings in Gorman-Rupp by 115.1% in the 2nd quarter. Renaissance Technologies LLC now owns 127,815 shares of the industrial products company’s stock valued at $4,474,000 after buying an additional 68,400 shares during the period. Finally, Citadel Advisors LLC increased its holdings in Gorman-Rupp by 110.8% in the 2nd quarter. Citadel Advisors LLC now owns 66,247 shares of the industrial products company’s stock valued at $2,319,000 after buying an additional 34,818 shares during the period. 53.16% 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 worldwide. 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.

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Insider Buying and Selling by Quarter for Gorman-Rupp (NYSE:GRC)

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