Ellsworth Advisors LLC Takes $841,000 Position in Gorman-Rupp Company (The) $GRC

Ellsworth Advisors LLC bought a new stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 18,209 shares of the industrial products company’s stock, valued at approximately $841,000.

A number of other institutional investors have also recently added to or reduced their stakes in GRC. American Century Companies Inc. lifted its holdings in Gorman-Rupp by 10.1% during the first quarter. American Century Companies Inc. now owns 46,740 shares of the industrial products company’s stock valued at $1,641,000 after purchasing an additional 4,285 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Gorman-Rupp by 42.3% during the 1st quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 896 shares during the last quarter. Jump Financial LLC purchased a new position in Gorman-Rupp in the 1st quarter valued at about $213,000. Pinnacle Wealth Planning Services Inc. lifted its stake in Gorman-Rupp by 27.3% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 20,638 shares of the industrial products company’s stock valued at $724,000 after buying an additional 4,422 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in Gorman-Rupp in the 1st quarter worth about $203,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Trading Down 0.8%

Shares of Gorman-Rupp stock opened at $49.40 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.08 and a quick ratio of 1.25. The stock’s 50 day simple moving average is $46.66 and its 200-day simple moving average is $43.14. The stock has a market cap of $1.30 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.91 and a beta of 1.29. Gorman-Rupp Company has a 1-year low of $30.87 and a 1-year high of $52.01.

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

Gorman-Rupp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were issued a $0.19 dividend. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, November 14th. Gorman-Rupp’s payout ratio is currently 39.79%.

Wall Street Analyst Weigh In

GRC has been the topic of several research reports. Wall Street Zen upgraded Gorman-Rupp from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

About Gorman-Rupp

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.