Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Gorman-Rupp Co (NYSE:GRC) by 51.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,315 shares of the industrial products company’s stock after acquiring an additional 447 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gorman-Rupp were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Gorman-Rupp during the 1st quarter worth $131,000. BNP Paribas Arbitrage SA boosted its stake in shares of Gorman-Rupp by 309.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,136 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 3,125 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Gorman-Rupp during the 1st quarter worth $155,000. Virginia Retirement Systems ET AL boosted its stake in shares of Gorman-Rupp by 9.0% during the 1st quarter. Virginia Retirement Systems ET AL now owns 7,300 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 600 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Gorman-Rupp by 86.9% during the 4th quarter. Bank of America Corp DE now owns 16,235 shares of the industrial products company’s stock worth $526,000 after acquiring an additional 7,547 shares during the last quarter. Institutional investors and hedge funds own 53.17% of the company’s stock.
Shares of Gorman-Rupp stock traded down $1.02 on Friday, hitting $29.08. 789 shares of the company’s stock were exchanged, compared to its average volume of 35,997. The company has a 50-day simple moving average of $31.54 and a 200-day simple moving average of $32.67. The stock has a market capitalization of $790.01 million, a PE ratio of 19.38 and a beta of 0.94. Gorman-Rupp Co has a 1 year low of $29.57 and a 1 year high of $38.26.
Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The business had revenue of $108.30 million for the quarter, compared to analysts’ expectations of $112.95 million. Gorman-Rupp had a net margin of 9.22% and a return on equity of 13.12%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, August 14th.
The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. 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.
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