State of Wyoming Acquires New Shares in Gorman-Rupp Company (The) $GRC

State of Wyoming acquired a new stake in Gorman-Rupp Company (The) (NYSE:GRC) during the 4th quarter, Holdings Channel.com reports. The fund acquired 8,863 shares of the industrial products company’s stock, valued at approximately $423,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GRC. Victory Capital Management Inc. lifted its position in Gorman-Rupp by 2,664,700.0% in the 3rd quarter. Victory Capital Management Inc. now owns 266,480 shares of the industrial products company’s stock valued at $12,367,000 after acquiring an additional 266,470 shares in the last quarter. Teton Advisors LLC bought a new position in Gorman-Rupp in the 3rd quarter valued at approximately $2,191,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Gorman-Rupp by 42.9% during the 4th 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. Jane Street Group LLC boosted its holdings in shares of Gorman-Rupp by 203.0% during the 1st quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock valued at $1,702,000 after acquiring an additional 32,494 shares during the last quarter. Finally, Man Group plc boosted its holdings in shares of Gorman-Rupp by 51.6% during the 2nd quarter. Man Group plc now owns 81,212 shares of the industrial products company’s stock valued at $2,982,000 after acquiring an additional 27,630 shares during the last quarter. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Stock Performance

Shares of NYSE GRC opened at $77.32 on Monday. The firm’s 50-day moving average price is $71.40 and its 200-day moving average price is $60.69. The company has a quick ratio of 1.76, a current ratio of 2.93 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.04 billion, a PE ratio of 34.67, a PEG ratio of 2.28 and a beta of 1.31. Gorman-Rupp Company has a 52-week low of $34.96 and a 52-week high of $79.54.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.19. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The firm had revenue of $176.59 million for the quarter, compared to analysts’ expectations of $170.61 million. As a group, analysts anticipate that Gorman-Rupp Company will post 2.6 EPS for the current year.

Gorman-Rupp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th. Gorman-Rupp’s dividend payout ratio is 34.08%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GRC shares. Weiss Ratings raised shares of Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Finally, Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy”.

About Gorman-Rupp

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.