Vanguard Group Inc. Cuts Stock Position in Gorman-Rupp Company (The) $GRC

Vanguard Group Inc. cut its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,212,632 shares of the industrial products company’s stock after selling 10,786 shares during the period. Vanguard Group Inc. owned about 8.41% of Gorman-Rupp worth $105,653,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Gorman-Rupp during the third quarter worth approximately $65,000. CWM LLC increased its stake in shares of Gorman-Rupp by 47.0% during the third quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock worth $67,000 after buying an additional 464 shares during the period. Osaic Holdings Inc. increased its stake in shares of Gorman-Rupp by 125.0% during the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after buying an additional 939 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Gorman-Rupp by 135.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock worth $75,000 after buying an additional 1,180 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of Gorman-Rupp by 14.4% during the third quarter. Quantbot Technologies LP now owns 2,980 shares of the industrial products company’s stock worth $138,000 after buying an additional 376 shares during the period. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Gorman-Rupp Price Performance

GRC stock opened at $75.92 on Wednesday. The company has a market capitalization of $2.00 billion, a P/E ratio of 34.04, a PEG ratio of 2.30 and a beta of 1.34. Gorman-Rupp Company has a twelve month low of $34.96 and a twelve month high of $79.54. The business has a 50 day simple moving average of $66.77 and a 200-day simple moving average of $56.99. The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.19. The business had revenue of $176.59 million during the quarter, compared to the consensus estimate of $170.61 million. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%. As a group, equities analysts anticipate that Gorman-Rupp Company will post 2.6 EPS for the current year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th. Gorman-Rupp’s dividend payout ratio is 34.08%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GRC. Weiss Ratings raised Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, April 29th. Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Strong Buy”.

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.