Gorman-Rupp Company (The) $GRC Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its position in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 38.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,123 shares of the industrial products company’s stock after acquiring an additional 2,553 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Gorman-Rupp were worth $335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Gorman-Rupp by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 756,083 shares of the industrial products company’s stock worth $26,540,000 after purchasing an additional 53,006 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of Gorman-Rupp by 6.1% in the first quarter. Gamco Investors INC. ET AL now owns 554,728 shares of the industrial products company’s stock valued at $19,471,000 after buying an additional 31,790 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Gorman-Rupp by 8.5% during the 1st quarter. Cooke & Bieler LP now owns 481,965 shares of the industrial products company’s stock worth $16,917,000 after buying an additional 37,738 shares during the last quarter. Grace & White Inc. NY boosted its position in shares of Gorman-Rupp by 0.5% in the 2nd quarter. Grace & White Inc. NY now owns 349,291 shares of the industrial products company’s stock worth $12,826,000 after buying an additional 1,632 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Gorman-Rupp by 9.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock valued at $9,888,000 after acquiring an additional 25,033 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GRC shares. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Gorman-Rupp Stock Performance

Shares of NYSE GRC opened at $44.43 on Friday. The company has a 50-day simple moving average of $45.12 and a 200-day simple moving average of $40.67. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.08 and a quick ratio of 1.39. The company has a market cap of $1.17 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. Gorman-Rupp Company has a 12 month low of $30.87 and a 12 month high of $49.24.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, October 24th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $172.83 million for the quarter, compared to analyst estimates of $174.61 million. Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%. On average, equities analysts anticipate that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.7%. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, November 14th. Gorman-Rupp’s payout ratio is 39.79%.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. 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.