Johnson Investment Counsel Inc. raised its stake in shares of The Gorman-Rupp Company (NYSE:GRC) by 32.1% in the second quarter, Holdings Channel reports. The fund owned 65,827 shares of the industrial products company’s stock after acquiring an additional 15,990 shares during the period. Johnson Investment Counsel Inc.’s holdings in The Gorman-Rupp were worth $2,267,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Berman Capital Advisors LLC acquired a new stake in The Gorman-Rupp in the second quarter worth about $32,000. Royal Bank of Canada lifted its holdings in shares of The Gorman-Rupp by 25.8% during the 1st quarter. Royal Bank of Canada now owns 2,999 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 615 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in The Gorman-Rupp by 317.6% in the 1st quarter. Russell Investments Group Ltd. now owns 4,510 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 3,430 shares in the last quarter. WINTON GROUP Ltd bought a new stake in The Gorman-Rupp in the 2nd quarter valued at approximately $214,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in The Gorman-Rupp in the 2nd quarter valued at approximately $238,000. 55.12% of the stock is owned by institutional investors.
In other news, Director Christopher H. Lake sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $34.93, for a total value of $59,381.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 7.20% of the stock is currently owned by corporate insiders.
The Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Thursday, July 22nd. The industrial products company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $93.02 million for the quarter. The Gorman-Rupp had a return on equity of 9.68% and a net margin of 8.09%.
The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 13th were issued a $0.155 dividend. The ex-dividend date was Thursday, August 12th. This represents a $0.62 annualized dividend and a yield of 1.65%.
The Gorman-Rupp Profile
The Gorman-Rupp Co engages in the design, manufacture, and global marketing of pumps and pump systems. Its pump models include self-priming centrifugal, standard centrifugal, submersible, rotary gear, diaphragm, engine-driven, and priming assist pumps as well as packaged pump stations. The firm offers its products to fire protection, municipal, industrial, agriculture, construction, petroleum, and original equipment manufacturer.
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