AlphaQuest LLC Grows Stock Holdings in Gorman-Rupp Company (The) $GRC

AlphaQuest LLC raised its position in Gorman-Rupp Company (The) (NYSE:GRC) by 2,963.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,034 shares of the industrial products company’s stock after acquiring an additional 16,478 shares during the quarter. AlphaQuest LLC owned approximately 0.06% of Gorman-Rupp worth $625,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP increased its position in shares of Gorman-Rupp by 42.3% in the first quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 896 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Gorman-Rupp in the first quarter valued at about $203,000. Jump Financial LLC bought a new stake in shares of Gorman-Rupp during the 1st quarter valued at about $213,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Gorman-Rupp during the 1st quarter valued at about $221,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Gorman-Rupp during the 2nd quarter valued at about $255,000. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Trading Down 0.5%

NYSE:GRC opened at $46.32 on Tuesday. Gorman-Rupp Company has a one year low of $30.87 and a one year high of $49.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.39. The company’s 50-day simple moving average is $44.66 and its 200 day simple moving average is $39.99. The firm has a market capitalization of $1.22 billion, a P/E ratio of 24.25, a PEG ratio of 1.76 and a beta of 1.22.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gorman-Rupp had a return on equity of 13.67% and a net margin of 7.41%.The business had revenue of $172.83 million for the quarter, compared to the consensus estimate of $174.61 million. As a group, analysts forecast that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 1.6%. Gorman-Rupp’s payout ratio is presently 38.74%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GRC shares. Wall Street Zen lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

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.