The Gorman-Rupp Company (NYSE:GRC – Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 175,399 shares were traded during trading, an increase of 89% from the previous session’s volume of 92,817 shares.The stock last traded at $41.50 and had previously closed at $40.63.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Gorman-Rupp from a “buy” rating to a “hold” rating in a report on Friday, July 19th.
Get Our Latest Research Report on Gorman-Rupp
Gorman-Rupp Price Performance
Gorman-Rupp (NYSE:GRC – Get Free Report) last announced its earnings results on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $159.27 million for the quarter, compared to analyst estimates of $168.49 million. Gorman-Rupp had a return on equity of 10.54% and a net margin of 5.52%. Equities research analysts forecast that The Gorman-Rupp Company will post 1.66 EPS for the current fiscal year.
Institutional Trading of Gorman-Rupp
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRC. Assenagon Asset Management S.A. increased its holdings in Gorman-Rupp by 380.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,854 shares of the industrial products company’s stock worth $1,558,000 after purchasing an additional 34,728 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Gorman-Rupp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,321,685 shares of the industrial products company’s stock worth $46,960,000 after buying an additional 13,129 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Gorman-Rupp by 92.2% in the 4th quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company’s stock worth $88,000 after buying an additional 1,298 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Gorman-Rupp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company’s stock worth $74,230,000 after buying an additional 19,797 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Gorman-Rupp by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock worth $11,244,000 after buying an additional 944 shares during the last quarter. 59.26% of the stock is owned by institutional investors.
About Gorman-Rupp
The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. 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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