Vanguard Group Inc. reduced its position in Gorman-Rupp Company (The) (NYSE:GRC – Free Report) by 0.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,212,632 shares of the industrial products company’s stock after selling 10,786 shares during the quarter. Vanguard Group Inc. owned about 0.08% of Gorman-Rupp worth $105,653,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in Gorman-Rupp in the 3rd quarter valued at $65,000. CWM LLC increased its stake in Gorman-Rupp by 47.0% in the 3rd quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock valued at $67,000 after buying an additional 464 shares during the period. Osaic Holdings Inc. increased its stake 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 valued at $62,000 after buying an additional 939 shares during the period. Tower Research Capital LLC TRC increased its stake 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 valued at $75,000 after buying an additional 1,180 shares during the period. Finally, Quantbot Technologies LP increased its stake in Gorman-Rupp by 14.4% in the 3rd quarter. Quantbot Technologies LP now owns 2,980 shares of the industrial products company’s stock valued at $138,000 after buying an additional 376 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have issued reports on GRC. Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Zacks Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Finally, Weiss Ratings upgraded Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat.com, Gorman-Rupp presently has a consensus rating of “Strong Buy”.
Gorman-Rupp Trading Down 2.5%
NYSE:GRC opened at $75.92 on Wednesday. The stock has a fifty day moving average price of $66.77 and a two-hundred day moving average price of $56.99. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.30 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.76 and a current ratio of 2.93. Gorman-Rupp Company has a 1 year low of $34.96 and a 1 year high of $79.54.
Gorman-Rupp (NYSE:GRC – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.19. The firm had revenue of $176.59 million during the quarter, compared to analysts’ expectations of $170.61 million. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%. As a group, sell-side analysts anticipate that Gorman-Rupp Company will post 2.6 earnings per share for the current fiscal year.
Gorman-Rupp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be given a $0.19 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 34.08%.
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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