Strs Ohio Invests $752,000 in Gorman-Rupp Company (The) $GRC

Strs Ohio bought a new position in shares of Gorman-Rupp Company (The) (NYSE:GRC) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,100 shares of the industrial products company’s stock, valued at approximately $752,000.

A number of other large investors have also added to or reduced their stakes in GRC. Janney Montgomery Scott LLC boosted its position in Gorman-Rupp by 10.1% during the first quarter. Janney Montgomery Scott LLC now owns 25,903 shares of the industrial products company’s stock worth $1,609,000 after purchasing an additional 2,372 shares during the period. Total Clarity Wealth Management Inc. acquired a new position in shares of Gorman-Rupp in the first quarter valued at $472,000. SG Americas Securities LLC raised its position in shares of Gorman-Rupp by 65.5% in the first quarter. SG Americas Securities LLC now owns 18,361 shares of the industrial products company’s stock valued at $1,141,000 after purchasing an additional 7,265 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Gorman-Rupp during the 4th quarter worth about $205,000. Finally, Invesco Ltd. lifted its stake in shares of Gorman-Rupp by 23.1% during the 4th quarter. Invesco Ltd. now owns 95,126 shares of the industrial products company’s stock worth $4,542,000 after buying an additional 17,867 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

Analysts Set New Price Targets

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

Gorman-Rupp Stock Down 2.3%

Shares of NYSE GRC opened at $77.97 on Thursday. The stock has a market capitalization of $2.06 billion, a P/E ratio of 34.97, a PEG ratio of 2.36 and a beta of 1.28. The stock’s fifty day moving average is $79.82 and its 200 day moving average is $66.94. Gorman-Rupp Company has a 52 week low of $36.40 and a 52 week high of $92.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.76 and a current ratio of 2.93.

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, topping the consensus estimate of $0.49 by $0.19. The business had revenue of $176.59 million during the quarter, compared to analysts’ expectations of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. Sell-side analysts forecast that Gorman-Rupp Company will post 2.6 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a dividend of $0.19 per share. 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 34.08%.

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.