Vanguard Group Inc. Sells 24,093 Shares of Gorman-Rupp Company (The) $GRC

Vanguard Group Inc. lowered its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 1.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,223,418 shares of the industrial products company’s stock after selling 24,093 shares during the period. Vanguard Group Inc. owned about 8.45% of Gorman-Rupp worth $103,189,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc increased its position in Gorman-Rupp by 11.8% during the 2nd quarter. Legal & General Group Plc now owns 263,975 shares of the industrial products company’s stock valued at $9,719,000 after purchasing an additional 27,856 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Gorman-Rupp in the 3rd quarter valued at $4,007,000. Gamco Investors INC. ET AL increased its position in shares of Gorman-Rupp by 6.9% during the second quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company’s stock worth $21,775,000 after buying an additional 38,260 shares during the period. Geode Capital Management LLC increased its position in shares of Gorman-Rupp by 3.0% during the second quarter. Geode Capital Management LLC now owns 520,534 shares of the industrial products company’s stock worth $19,117,000 after buying an additional 14,997 shares during the period. Finally, Ellsworth Advisors LLC bought a new position in Gorman-Rupp during the third quarter worth $841,000. 59.26% of the stock is currently owned by institutional investors.

Gorman-Rupp Trading Up 1.9%

Shares of Gorman-Rupp stock opened at $65.09 on Thursday. The stock has a market capitalization of $1.71 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The stock has a 50 day moving average price of $57.16 and a two-hundred day moving average price of $49.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.25 and a current ratio of 2.37. Gorman-Rupp Company has a 52 week low of $30.87 and a 52 week high of $68.02.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. The firm had revenue of $166.57 million for the quarter, compared to analyst estimates of $167.08 million. As a group, equities analysts anticipate that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, February 13th. This represents a $0.76 annualized dividend and a yield of 1.2%. Gorman-Rupp’s dividend payout ratio is 37.81%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a research report on Thursday, January 22nd. Wall Street Zen upgraded Gorman-Rupp from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.