Gorman-Rupp Company (The) $GRC Shares Sold by Grace & White Inc. NY

Grace & White Inc. NY lessened its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 3.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 321,626 shares of the industrial products company’s stock after selling 12,831 shares during the period. Gorman-Rupp accounts for about 3.5% of Grace & White Inc. NY’s portfolio, making the stock its 5th largest position. Grace & White Inc. NY owned approximately 1.22% of Gorman-Rupp worth $19,983,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank acquired a new stake in Gorman-Rupp in the fourth quarter worth $31,000. NewEdge Advisors LLC raised its holdings in shares of Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 379 shares during the period. Osaic Holdings Inc. raised its holdings 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 valued at $62,000 after purchasing an additional 939 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Gorman-Rupp by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 1,180 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Gorman-Rupp in the 4th quarter valued at about $100,000. 59.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Gorman-Rupp Stock Down 1.7%

Gorman-Rupp stock opened at $89.33 on Friday. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 2.69 and a beta of 1.31. The firm’s fifty day moving average price is $77.42 and its two-hundred day moving average price is $64.76. Gorman-Rupp Company has a 1-year low of $36.40 and a 1-year high of $91.38. 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 earnings results on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.49 by $0.19. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The company had revenue of $176.59 million during the quarter, compared to the consensus estimate of $170.61 million. On average, equities research analysts predict that Gorman-Rupp Company will post 2.6 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend was Friday, May 15th. Gorman-Rupp’s payout ratio is currently 34.08%.

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.