Deutsche Bank AG Invests $2.07 Million in Gorman-Rupp Company (The) $GRC

Deutsche Bank AG bought a new position in Gorman-Rupp Company (The) (NYSE:GRC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 22,541 shares of the industrial products company’s stock, valued at approximately $2,068,000.

A number of other institutional investors have also recently bought and sold shares of GRC. Victory Capital Management Inc. raised its stake in Gorman-Rupp by 211.6% during the fourth quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock worth $39,655,000 after purchasing an additional 564,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Gorman-Rupp by 2.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 753,862 shares of the industrial products company’s stock valued at $34,985,000 after buying an additional 15,178 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Gorman-Rupp by 0.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 599,520 shares of the industrial products company’s stock worth $28,627,000 after buying an additional 2,970 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Gorman-Rupp by 326.1% during the 1st quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock worth $32,581,000 after buying an additional 401,340 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Gorman-Rupp by 1,056.7% in the 1st quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company’s stock worth $18,778,000 after buying an additional 276,101 shares during the period. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GRC shares. Zacks Research cut Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Monday. Weiss Ratings lowered 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 report on Monday, May 18th. Finally, Wall Street Zen lowered Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Gorman-Rupp presently has an average rating of “Hold”.

Gorman-Rupp Stock Up 0.1%

GRC stock opened at $77.67 on Friday. The company has a current ratio of 2.81, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $82.10 and a 200-day simple moving average of $74.09. The company has a market capitalization of $2.05 billion, a P/E ratio of 32.77, a PEG ratio of 2.24 and a beta of 1.29. Gorman-Rupp Company has a twelve month low of $41.85 and a twelve month high of $92.78.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $186.07 million for the quarter, compared to the consensus estimate of $188.89 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. On average, equities research analysts predict that Gorman-Rupp Company will post 2.67 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. Gorman-Rupp’s dividend payout ratio is 32.07%.

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.