Insider Buying: Gorman-Rupp Co (GRC) Treasurer Acquires 1,486 Shares of Stock

Gorman-Rupp Co (NYSE:GRC) Treasurer Angela M. Morehead purchased 1,486 shares of Gorman-Rupp stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $30.50 per share, for a total transaction of $45,323.00. Following the acquisition, the treasurer now owns 1,987 shares in the company, valued at $60,603.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NYSE GRC traded down $0.65 during trading on Thursday, hitting $30.61. 1,344 shares of the company were exchanged, compared to its average volume of 43,204. Gorman-Rupp Co has a 12-month low of $29.94 and a 12-month high of $38.26. The firm has a market cap of $816.51 million, a PE ratio of 19.52 and a beta of 0.93.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.10). Gorman-Rupp had a return on equity of 13.25% and a net margin of 9.07%. The company had revenue of $96.90 million for the quarter, compared to analysts’ expectations of $105.30 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm’s revenue was up .3% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.135 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.54 annualized dividend and a dividend yield of 1.76%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Gorman-Rupp during the 4th quarter worth about $26,000. Macquarie Group Ltd. grew its position in Gorman-Rupp by 131.2% in the 4th quarter. Macquarie Group Ltd. now owns 793 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 450 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Gorman-Rupp during the first quarter worth about $29,000. Advisor Group Inc. grew its position in shares of Gorman-Rupp by 3,231.3% during the fourth quarter. Advisor Group Inc. now owns 1,066 shares of the industrial products company’s stock worth $35,000 after buying an additional 1,034 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Gorman-Rupp during the first quarter worth approximately $131,000. Institutional investors and hedge funds own 53.13% of the company’s stock.

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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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