Point72 Asia Singapore Pte. Ltd. Has $125,000 Holdings in The Gorman-Rupp Company (NYSE:GRC)

Point72 Asia Singapore Pte. Ltd. lessened its stake in The Gorman-Rupp Company (NYSE:GRC) by 38.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,297 shares of the industrial products company’s stock after selling 2,075 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Gorman-Rupp were worth $125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Point72 Asset Management L.P. boosted its holdings in shares of Gorman-Rupp by 362.5% in the fourth quarter. Point72 Asset Management L.P. now owns 7,400 shares of the industrial products company’s stock valued at $281,000 after buying an additional 5,800 shares during the period. Man Group plc boosted its holdings in Gorman-Rupp by 52.7% during the fourth quarter. Man Group plc now owns 38,308 shares of the industrial products company’s stock worth $1,453,000 after purchasing an additional 13,227 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Gorman-Rupp by 22.1% during the fourth quarter. Nuveen Asset Management LLC now owns 84,790 shares of the industrial products company’s stock worth $3,215,000 after purchasing an additional 15,362 shares during the last quarter. Needham Investment Management LLC boosted its holdings in Gorman-Rupp by 8.6% during the fourth quarter. Needham Investment Management LLC now owns 138,500 shares of the industrial products company’s stock worth $5,252,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Gorman-Rupp by 7.7% during the fourth quarter. Millennium Management LLC now owns 171,904 shares of the industrial products company’s stock worth $6,519,000 after purchasing an additional 12,308 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Stock Performance

Shares of GRC opened at $38.78 on Friday. The Gorman-Rupp Company has a 12 month low of $30.87 and a 12 month high of $43.79. The firm has a fifty day simple moving average of $35.50 and a 200 day simple moving average of $37.93. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.54 and a beta of 1.20. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. The business had revenue of $163.95 million during the quarter, compared to analysts’ expectations of $164.84 million. Research analysts forecast that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, May 15th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 43.79%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th.

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.