The Manufacturers Life Insurance Company Makes New Investment in Gorman-Rupp Company (The) $GRC

The Manufacturers Life Insurance Company bought a new stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 9,333 shares of the industrial products company’s stock, valued at approximately $856,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in shares of Gorman-Rupp during the 2nd quarter worth about $375,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Gorman-Rupp in the 2nd quarter valued at approximately $9,209,000. Globeflex Capital L P bought a new position in shares of Gorman-Rupp in the 2nd quarter valued at approximately $350,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Gorman-Rupp in the 2nd quarter worth approximately $28,000. Finally, Quantbot Technologies LP acquired a new stake in Gorman-Rupp in the 2nd quarter worth approximately $306,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Analyst Ratings Changes

GRC has been the subject of a number of recent analyst reports. Freedom Capital raised Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings lowered shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Wall Street Zen cut shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Zacks Research downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Insider Buying and Selling at Gorman-Rupp

In other news, VP D. Patrick Wischmeier sold 5,153 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $77.62, for a total value of $399,975.86. Following the completion of the sale, the vice president directly owned 1,409 shares of the company’s stock, valued at approximately $109,366.58. This represents a 78.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.60% of the company’s stock.

Gorman-Rupp Trading Up 0.2%

Gorman-Rupp stock opened at $75.25 on Friday. Gorman-Rupp Company has a 52 week low of $41.98 and a 52 week high of $92.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81. The firm has a market capitalization of $1.99 billion, a PE ratio of 31.75, a PEG ratio of 2.17 and a beta of 1.29. The business’s 50-day simple moving average is $80.52 and its 200-day simple moving average is $74.40.

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

Gorman-Rupp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. Gorman-Rupp’s payout ratio 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.