Gorman-Rupp Company (The) $GRC Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in Gorman-Rupp Company (The) (NYSE:GRC) by 31.7% in the second quarter, HoldingsChannel.com reports. The fund owned 9,566 shares of the industrial products company’s stock after selling 4,431 shares during the quarter. Intech Investment Management LLC’s holdings in Gorman-Rupp were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Gorman-Rupp by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 756,083 shares of the industrial products company’s stock valued at $26,540,000 after buying an additional 53,006 shares during the last quarter. Gamco Investors INC. ET AL grew its position in shares of Gorman-Rupp by 6.1% during the first quarter. Gamco Investors INC. ET AL now owns 554,728 shares of the industrial products company’s stock worth $19,471,000 after acquiring an additional 31,790 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Gorman-Rupp by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 520,534 shares of the industrial products company’s stock worth $19,117,000 after acquiring an additional 14,997 shares during the period. Grace & White Inc. NY lifted its position in Gorman-Rupp by 0.5% in the 2nd quarter. Grace & White Inc. NY now owns 349,291 shares of the industrial products company’s stock valued at $12,826,000 after purchasing an additional 1,632 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Gorman-Rupp by 9.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock valued at $9,888,000 after purchasing an additional 25,033 shares during the period. 59.26% of the stock is currently owned by institutional investors.

Gorman-Rupp Stock Down 0.1%

GRC stock opened at $46.49 on Monday. Gorman-Rupp Company has a 52 week low of $30.87 and a 52 week high of $49.24. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. The firm’s 50-day moving average is $45.70 and its two-hundred day moving average is $41.65. The company has a current ratio of 2.08, a quick ratio of 1.39 and a debt-to-equity ratio of 0.74.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gorman-Rupp had a net margin of 7.41% and a return on equity of 13.49%. The company had revenue of $172.83 million during the quarter, compared to the consensus estimate of $174.61 million. On average, analysts forecast that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a dividend of $0.19 per share. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, November 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.6%. Gorman-Rupp’s payout ratio is 39.79%.

Analyst Ratings Changes

GRC has been the topic of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. Wall Street Zen lowered Gorman-Rupp from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

About Gorman-Rupp

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.