The Gorman-Rupp Company (NYSE:GRC) Sees Significant Drop in Short Interest

The Gorman-Rupp Company (NYSE:GRC) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 128,700 shares, a decrease of 21.5% from the February 13th total of 164,000 shares. Based on an average daily volume of 65,200 shares, the days-to-cover ratio is presently 2.0 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Centricity Wealth Management LLC bought a new position in Gorman-Rupp in the 4th quarter valued at approximately $38,000. Point72 Asset Management L.P. bought a new position in Gorman-Rupp in the 3rd quarter valued at approximately $62,000. Quantbot Technologies LP acquired a new stake in Gorman-Rupp during the 3rd quarter valued at approximately $154,000. Aquatic Capital Management LLC increased its position in Gorman-Rupp by 46.2% during the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 1,339 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gorman-Rupp during the 3rd quarter valued at approximately $209,000. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

GRC traded up $0.03 on Wednesday, hitting $37.07. 12,496 shares of the stock were exchanged, compared to its average volume of 79,801. The firm has a market capitalization of $972.35 million, a price-to-earnings ratio of 24.22, a PEG ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. Gorman-Rupp has a 12 month low of $30.47 and a 12 month high of $43.79. The business has a 50-day moving average of $37.88 and a two-hundred day moving average of $38.80.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Sell-side analysts forecast that Gorman-Rupp will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $0.185 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.00%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 48.37%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 25th.

Gorman-Rupp Company 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.