Principal Financial Group Inc. lifted its holdings in shares of Gorman-Rupp Co (NYSEMKT:GRC) by 52.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,891 shares of the industrial products company’s stock after purchasing an additional 7,848 shares during the quarter. Principal Financial Group Inc. owned 0.09% of Gorman-Rupp worth $583,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. WCM Investment Management CA boosted its position in shares of Gorman-Rupp by 2.7% during the 2nd quarter. WCM Investment Management CA now owns 27,627 shares of the industrial products company’s stock worth $704,000 after acquiring an additional 735 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Gorman-Rupp by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 165,407 shares of the industrial products company’s stock worth $4,213,000 after acquiring an additional 10,753 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Gorman-Rupp by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 22,640 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 63 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Gorman-Rupp by 71.1% during the 2nd quarter. First Trust Advisors LP now owns 145,606 shares of the industrial products company’s stock worth $3,709,000 after acquiring an additional 60,512 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Gorman-Rupp by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 75,435 shares of the industrial products company’s stock worth $1,922,000 after acquiring an additional 546 shares in the last quarter.
In other Gorman-Rupp news, Director Christopher H. Lake sold 2,200 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $27.23, for a total transaction of $59,906.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth R. Reynolds purchased 2,500 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were purchased at an average cost of $28.17 per share, with a total value of $70,425.00. The disclosure for this purchase can be found here.
GRC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, August 1st. TheStreet upgraded shares of Gorman-Rupp from a “c+” rating to a “b-” rating in a research report on Monday, August 21st.
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Gorman-Rupp Co (NYSEMKT:GRC) opened at 32.72 on Friday. The stock’s 50 day moving average is $30.90 and its 200 day moving average is $28.17. Gorman-Rupp Co has a 1-year low of $22.30 and a 1-year high of $34.45. The company has a market cap of $853.96 million, a P/E ratio of 34.30 and a beta of 1.13.
Gorman-Rupp (NYSEMKT:GRC) last announced its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.13. Gorman-Rupp had a net margin of 8.02% and a return on equity of 10.14%. The company had revenue of $97.87 million during the quarter, compared to analysts’ expectations of $92.90 million. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. Equities analysts anticipate that Gorman-Rupp Co will post $1.06 earnings per share for the current fiscal year.
Gorman-Rupp Company Profile
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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