Strs Ohio Buys Shares of 12,100 Gorman-Rupp Company (The) $GRC

Strs Ohio purchased a new stake in Gorman-Rupp Company (The) (NYSE:GRC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,100 shares of the industrial products company’s stock, valued at approximately $752,000.

A number of other institutional investors also recently modified their holdings of the business. Huntington National Bank bought a new stake in shares of Gorman-Rupp during the 4th quarter worth $31,000. NewEdge Advisors LLC grew its position in Gorman-Rupp by 130.7% in the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 379 shares during the last quarter. Osaic Holdings Inc. grew its position in Gorman-Rupp by 125.0% in the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 939 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in 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 acquiring an additional 1,180 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Gorman-Rupp during the fourth quarter worth about $100,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GRC has been the subject of a number of research reports. Zacks Research cut shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Freedom Capital upgraded shares of Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Finally, Weiss Ratings downgraded shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Gorman-Rupp Trading Down 2.3%

NYSE GRC opened at $77.97 on Thursday. The business’s 50-day moving average price is $79.82 and its two-hundred day moving average price is $66.94. Gorman-Rupp Company has a 12 month low of $36.40 and a 12 month high of $92.78. The firm has a market capitalization of $2.06 billion, a PE ratio of 34.97, a price-to-earnings-growth ratio of 2.36 and a beta of 1.28. 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 issued its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.19. The company 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%. On average, analysts expect that Gorman-Rupp Company will post 2.6 EPS for the current year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. Gorman-Rupp’s dividend payout ratio is currently 34.08%.

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.