Renaissance Technologies LLC Sells 32,584 Shares of Gorman-Rupp Company (The) $GRC

Renaissance Technologies LLC reduced its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 18.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,031 shares of the industrial products company’s stock after selling 32,584 shares during the period. Renaissance Technologies LLC owned 0.53% of Gorman-Rupp worth $8,700,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank purchased a new stake in Gorman-Rupp in the fourth quarter worth about $31,000. NewEdge Advisors LLC increased its stake in shares of Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 379 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Gorman-Rupp by 125.0% during the second 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. Tower Research Capital LLC TRC lifted its holdings in shares of Gorman-Rupp by 135.2% during the second 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. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Gorman-Rupp in the 1st quarter worth approximately $89,000. Institutional investors own 59.26% of the company’s stock.

Wall Street Analyst Weigh In

GRC has been the topic of several recent research reports. Weiss Ratings downgraded Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Zacks Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. One investment 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 stock. According to MarketBeat.com, Gorman-Rupp has a consensus rating of “Buy”.

Gorman-Rupp Stock Up 0.4%

NYSE:GRC opened at $81.55 on Monday. The firm has a market cap of $2.15 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.34 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81. Gorman-Rupp Company has a fifty-two week low of $39.64 and a fifty-two week high of $92.78. The firm has a 50-day simple moving average of $81.61 and a two-hundred day simple moving average of $70.61.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. The business had revenue of $186.07 million during the quarter, compared to analysts’ expectations of $188.89 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. Analysts predict that Gorman-Rupp Company will post 2.67 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given 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 dividend payout ratio (DPR) is 32.07%.

Gorman-Rupp Company 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.