Gorman-Rupp Company (The) $GRC Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 65.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,361 shares of the industrial products company’s stock after buying an additional 7,265 shares during the period. SG Americas Securities LLC owned about 0.07% of Gorman-Rupp worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Gorman-Rupp by 43.2% during the third quarter. JPMorgan Chase & Co. now owns 67,990 shares of the industrial products company’s stock valued at $3,155,000 after purchasing an additional 20,522 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Gorman-Rupp by 2,664,700.0% during the 3rd quarter. Victory Capital Management Inc. now owns 266,480 shares of the industrial products company’s stock worth $12,367,000 after purchasing an additional 266,470 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Gorman-Rupp by 42.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 123,382 shares of the industrial products company’s stock worth $5,891,000 after purchasing an additional 37,037 shares during the last quarter. Teton Advisors LLC purchased a new position in Gorman-Rupp in the 3rd quarter valued at about $2,191,000. Finally, State of Wyoming purchased a new position in Gorman-Rupp in the 4th quarter valued at about $423,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Trading Up 0.3%

Shares of Gorman-Rupp stock opened at $84.29 on Friday. The stock has a market cap of $2.23 billion, a P/E ratio of 37.80, a P/E/G ratio of 2.49 and a beta of 1.28. The stock’s 50 day simple moving average is $79.51 and its 200-day simple moving average is $66.15. Gorman-Rupp Company has a 1-year low of $36.40 and a 1-year high of $92.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.93 and a quick ratio of 1.76.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.49 by $0.19. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%.The firm had revenue of $176.59 million during the quarter, compared to analysts’ expectations of $170.61 million. Analysts predict that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, May 15th. Gorman-Rupp’s dividend payout ratio is presently 34.08%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Zacks Research lowered 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 research report on Monday, May 18th. Weiss Ratings lowered Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

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.