Cetera Investment Advisers bought a new position in Gorman-Rupp Company (The) (NYSE:GRC – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,819 shares of the industrial products company’s stock, valued at approximately $983,000.
A number of other hedge funds also recently added to or reduced their stakes in GRC. Huntington National Bank bought a new position in shares of Gorman-Rupp during the fourth quarter valued at $31,000. NewEdge Advisors LLC boosted its holdings in Gorman-Rupp by 130.7% in the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares during the last quarter. Osaic Holdings Inc. grew its position in Gorman-Rupp by 125.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 939 shares during the period. Tower Research Capital LLC TRC grew its position in Gorman-Rupp by 135.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 1,180 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new stake in Gorman-Rupp during the 1st quarter valued at $89,000. 59.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
GRC has been the subject of a number of research reports. Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Zacks Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Freedom Capital raised Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Finally, Wall Street Zen lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gorman-Rupp currently has a consensus rating of “Buy”.
Gorman-Rupp Price Performance
NYSE:GRC opened at $80.92 on Friday. The business has a 50 day simple moving average of $83.07 and a 200-day simple moving average of $72.60. Gorman-Rupp Company has a 1 year low of $41.02 and a 1 year high of $92.78. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 2.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.82.
Gorman-Rupp (NYSE:GRC – Get Free Report) last released its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. The firm had revenue of $186.07 million during the quarter, compared to analyst estimates of $188.89 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. Equities analysts forecast that Gorman-Rupp Company will post 2.67 EPS for the current year.
Gorman-Rupp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a yield of 0.9%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 32.07%.
Gorman-Rupp Profile
Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.
Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.
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