ProShare Advisors LLC Has $6.36 Million Stake in Gorman-Rupp Company (The) $GRC

ProShare Advisors LLC lowered its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 10.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 133,270 shares of the industrial products company’s stock after selling 15,734 shares during the period. ProShare Advisors LLC’s holdings in Gorman-Rupp were worth $6,364,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its stake in Gorman-Rupp by 125.0% during the 2nd 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 last quarter. State of Alaska Department of Revenue acquired a new position in Gorman-Rupp during the 3rd quarter valued at about $65,000. Tower Research Capital LLC TRC boosted its stake in 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 valued at $75,000 after purchasing an additional 1,180 shares during the last quarter. Quantbot Technologies LP boosted its stake in Gorman-Rupp by 14.4% during the 3rd quarter. Quantbot Technologies LP now owns 2,980 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 376 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Gorman-Rupp by 8.5% during the 3rd quarter. SG Americas Securities LLC now owns 3,443 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 269 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

Gorman-Rupp stock opened at $72.67 on Friday. Gorman-Rupp Company has a 52 week low of $34.96 and a 52 week high of $79.54. The company’s 50 day moving average price is $68.44 and its two-hundred day moving average price is $58.43. The company has a quick ratio of 1.76, a current ratio of 2.93 and a debt-to-equity ratio of 0.69. The stock has a market cap of $1.92 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.14 and a beta of 1.34.

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 firm had revenue of $176.59 million for the quarter, compared to analysts’ expectations of $170.61 million. On average, equities analysts predict that Gorman-Rupp Company will post 2.6 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 34.08%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GRC shares. Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gorman-Rupp 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.