Gorman-Rupp Company (The) $GRC Shares Bought by Grace & White Inc. NY

Grace & White Inc. NY boosted its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 349,291 shares of the industrial products company’s stock after buying an additional 1,632 shares during the period. Gorman-Rupp accounts for 2.3% of Grace & White Inc. NY’s investment portfolio, making the stock its 13th largest position. Grace & White Inc. NY owned 1.33% of Gorman-Rupp worth $12,826,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GRC. GAMMA Investing LLC raised its position in Gorman-Rupp by 4,451.0% in the first quarter. GAMMA Investing LLC now owns 6,599 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 6,454 shares during the period. Fifth Third Bancorp purchased a new stake in Gorman-Rupp in the first quarter valued at $45,000. Cambridge Investment Research Advisors Inc. raised its position in Gorman-Rupp by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,329 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 1,093 shares during the period. Aurora Private Wealth Inc. purchased a new stake in Gorman-Rupp in the first quarter valued at $1,262,000. Finally, Creative Financial Designs Inc. ADV raised its position in Gorman-Rupp by 6.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 21,035 shares of the industrial products company’s stock valued at $738,000 after purchasing an additional 1,240 shares during the period. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Gorman-Rupp currently has a consensus rating of “Buy”.

Gorman-Rupp Price Performance

GRC stock opened at $44.32 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $1.17 billion, a PE ratio of 22.50, a P/E/G ratio of 1.71 and a beta of 1.22. Gorman-Rupp Company has a 12-month low of $30.87 and a 12-month high of $48.12. The business’s fifty day moving average price is $43.58 and its 200 day moving average price is $38.95.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%.The company had revenue of $179.05 million for the quarter, compared to the consensus estimate of $174.60 million. On average, sell-side analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a $0.185 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.7%. Gorman-Rupp’s dividend payout ratio is 37.56%.

Gorman-Rupp Profile

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.