Gorman-Rupp Company (The) $GRC Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 2.9% during the 1st quarter, HoldingsChannel reports. The firm owned 1,277,005 shares of the industrial products company’s stock after selling 37,572 shares during the period. Dimensional Fund Advisors LP’s holdings in Gorman-Rupp were worth $79,337,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Gorman-Rupp by 43.2% during the third quarter. JPMorgan Chase & Co. now owns 67,990 shares of the industrial products company’s stock worth $3,155,000 after buying an additional 20,522 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Gorman-Rupp by 42.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 123,382 shares of the industrial products company’s stock valued at $5,891,000 after acquiring an additional 37,037 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new position in shares of Gorman-Rupp in the 1st quarter valued at about $472,000. SG Americas Securities LLC grew its position in shares of Gorman-Rupp by 222.3% in the 4th quarter. SG Americas Securities LLC now owns 11,096 shares of the industrial products company’s stock valued at $530,000 after acquiring an additional 7,653 shares during the period. Finally, Needham Investment Management LLC increased its stake in shares of Gorman-Rupp by 30.0% during the 4th quarter. Needham Investment Management LLC now owns 260,000 shares of the industrial products company’s stock worth $12,415,000 after purchasing an additional 60,000 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GRC. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings lowered Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Gorman-Rupp Trading Up 2.6%

Shares of Gorman-Rupp stock opened at $80.53 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.76. The business has a fifty day simple moving average of $81.43 and a two-hundred day simple moving average of $70.40. Gorman-Rupp Company has a 1 year low of $39.64 and a 1 year high of $92.78. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 2.26 and a beta of 1.28.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.70 by $0.04. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. The firm had revenue of $186.07 million for the quarter, compared to the consensus estimate of $188.89 million. Research analysts forecast that Gorman-Rupp Company will post 2.67 EPS for the current year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.76 annualized dividend and a dividend yield of 0.9%. Gorman-Rupp’s payout ratio is presently 32.07%.

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.