The Gorman-Rupp Company (NYSE:GRC) Short Interest Update

The Gorman-Rupp Company (NYSE:GRC) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 100,000 shares, a decrease of 22.3% from the February 28th total of 128,700 shares. Based on an average daily trading volume, of 70,300 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On Gorman-Rupp

Several hedge funds have recently added to or reduced their stakes in the business. Bailard Inc. raised its stake in shares of Gorman-Rupp by 2.5% during the fourth quarter. Bailard Inc. now owns 16,395 shares of the industrial products company’s stock valued at $622,000 after acquiring an additional 400 shares during the last quarter. Rhumbline Advisers increased its holdings in Gorman-Rupp by 1.8% in the fourth quarter. Rhumbline Advisers now owns 31,320 shares of the industrial products company’s stock valued at $1,188,000 after purchasing an additional 548 shares during the period. Inceptionr LLC raised its position in Gorman-Rupp by 9.5% during the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 609 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Gorman-Rupp by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,666 shares of the industrial products company’s stock worth $1,584,000 after buying an additional 830 shares during the period. Finally, Verition Fund Management LLC grew its position in shares of Gorman-Rupp by 13.7% in the 3rd quarter. Verition Fund Management LLC now owns 7,145 shares of the industrial products company’s stock valued at $278,000 after buying an additional 860 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Price Performance

NYSE:GRC traded up $0.88 on Tuesday, hitting $35.98. The company had a trading volume of 57,120 shares, compared to its average volume of 85,081. The firm has a 50 day moving average of $37.64 and a two-hundred day moving average of $38.75. The stock has a market capitalization of $943.68 million, a price-to-earnings ratio of 23.52, a PEG ratio of 1.54 and a beta of 0.94. Gorman-Rupp has a 52 week low of $30.47 and a 52 week high of $43.79. 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 released its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. During the same period last year, the company posted $0.34 EPS. On average, research analysts anticipate that Gorman-Rupp will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors 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 yield of 2.06%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 48.37%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note 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.