Park National Corp OH Decreases Holdings in Gorman-Rupp Company (The) $GRC

Park National Corp OH trimmed its position in Gorman-Rupp Company (The) (NYSE:GRC) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,366 shares of the industrial products company’s stock after selling 10,181 shares during the period. Park National Corp OH’s holdings in Gorman-Rupp were worth $2,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Gorman-Rupp by 9.8% during the first quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock worth $9,888,000 after purchasing an additional 25,033 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Gorman-Rupp by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company’s stock worth $2,278,000 after purchasing an additional 7,667 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Gorman-Rupp by 203.0% in the 1st quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock worth $1,702,000 after purchasing an additional 32,494 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Gorman-Rupp by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,333 shares of the industrial products company’s stock worth $6,695,000 after buying an additional 2,496 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Gorman-Rupp by 3.0% during the 2nd 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 last quarter. 59.26% of the stock is owned by hedge funds and other institutional investors.

Gorman-Rupp Stock Performance

Shares of GRC stock opened at $58.95 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.39 and a debt-to-equity ratio of 0.69. Gorman-Rupp Company has a 12-month low of $30.87 and a 12-month high of $68.02. The business’s 50 day moving average is $59.90 and its two-hundred day moving average is $50.99. The company has a market capitalization of $1.55 billion, a P/E ratio of 29.33, a P/E/G ratio of 2.01 and a beta of 1.27.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The business had revenue of $166.57 million during the quarter, compared to analysts’ expectations of $167.08 million. Gorman-Rupp had a return on equity of 14.06% and a net margin of 7.77%. Analysts expect that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 13th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 37.81%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GRC. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Thursday, January 22nd. Wall Street Zen upgraded Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average 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.