US Bancorp DE lessened its position in Gorman-Rupp Co (NYSE:GRC) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,328 shares of the industrial products company’s stock after selling 11,286 shares during the period. US Bancorp DE owned approximately 0.48% of Gorman-Rupp worth $4,386,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Victory Capital Management Inc. increased its position in shares of Gorman-Rupp by 15.9% during the second quarter. Victory Capital Management Inc. now owns 10,486 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 1,437 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Gorman-Rupp by 7.7% during the second quarter. Janney Montgomery Scott LLC now owns 27,473 shares of the industrial products company’s stock worth $962,000 after acquiring an additional 1,972 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Gorman-Rupp by 3.0% during the first quarter. Guggenheim Capital LLC now owns 81,363 shares of the industrial products company’s stock worth $2,380,000 after acquiring an additional 2,383 shares in the last quarter. Prentiss Smith & Co. Inc. bought a new stake in shares of Gorman-Rupp during the second quarter worth $105,000. Finally, First Trust Advisors LP increased its position in shares of Gorman-Rupp by 2.5% during the second quarter. First Trust Advisors LP now owns 144,928 shares of the industrial products company’s stock worth $5,072,000 after acquiring an additional 3,572 shares in the last quarter. 53.96% of the stock is owned by hedge funds and other institutional investors.

Separately, ValuEngine raised shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th.

In related news, Director Christopher H. Lake sold 2,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $36.69, for a total value of $73,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ronald D. Pittenger sold 4,968 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $37.13, for a total transaction of $184,461.84. Following the completion of the transaction, the vice president now directly owns 4,243 shares of the company’s stock, valued at approximately $157,542.59. The disclosure for this sale can be found here. 12.40% of the stock is currently owned by company insiders.

Gorman-Rupp stock opened at $36.34 on Friday. The firm has a market capitalization of $963.98 million, a P/E ratio of 24.94 and a beta of 1.13. Gorman-Rupp Co has a 1-year low of $26.53 and a 1-year high of $38.07.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, July 27th. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.08. The business had revenue of $111.83 million during the quarter, compared to the consensus estimate of $101.79 million. Gorman-Rupp had a net margin of 8.41% and a return on equity of 11.66%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Wednesday, August 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Tuesday, August 14th.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.

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Institutional Ownership by Quarter for Gorman-Rupp (NYSE:GRC)

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