State of Wyoming Sells 8,228 Shares of Gorman-Rupp Company (The) $GRC

State of Wyoming trimmed its position in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 92.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 635 shares of the industrial products company’s stock after selling 8,228 shares during the period. State of Wyoming’s holdings in Gorman-Rupp were worth $39,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Gorman-Rupp by 42.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 123,382 shares of the industrial products company’s stock valued at $5,891,000 after acquiring an additional 37,037 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Gorman-Rupp during the 1st quarter worth about $923,000. First Trust Advisors LP raised its holdings in shares of Gorman-Rupp by 326.1% in the 1st quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock valued at $32,581,000 after purchasing an additional 401,340 shares during the period. Total Clarity Wealth Management Inc. bought a new stake in shares of Gorman-Rupp in the 1st quarter valued at about $472,000. Finally, SG Americas Securities LLC lifted its stake in Gorman-Rupp by 222.3% in the 4th quarter. SG Americas Securities LLC now owns 11,096 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 7,653 shares during the last quarter. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Price Performance

NYSE:GRC opened at $85.45 on Wednesday. Gorman-Rupp Company has a one year low of $40.74 and a one year high of $92.78. The company has a market cap of $2.26 billion, a P/E ratio of 36.05, a P/E/G ratio of 2.39 and a beta of 1.29. The firm’s fifty day moving average price is $82.00 and its two-hundred day moving average price is $71.07. 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) last issued its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.04. The company had revenue of $186.07 million for 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 expect that Gorman-Rupp Company will post 2.67 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a $0.19 dividend. 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 is 32.07%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GRC shares. Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Zacks Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Finally, Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Gorman-Rupp Company 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.