SG Americas Securities LLC reduced its holdings in Gorman-Rupp Co (NYSE:GRC) by 32.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,311 shares of the industrial products company’s stock after selling 8,825 shares during the quarter. SG Americas Securities LLC’s holdings in Gorman-Rupp were worth $571,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Gorman-Rupp by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,826 shares of the industrial products company’s stock worth $43,320,000 after buying an additional 8,408 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Gorman-Rupp by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,596,088 shares of the industrial products company’s stock worth $40,652,000 after buying an additional 34,229 shares during the last quarter. State Street Corp grew its position in shares of Gorman-Rupp by 4.6% in the 2nd quarter. State Street Corp now owns 360,369 shares of the industrial products company’s stock worth $9,179,000 after buying an additional 15,819 shares during the last quarter. First Trust Advisors LP grew its position in shares of Gorman-Rupp by 40.2% in the 3rd quarter. First Trust Advisors LP now owns 204,168 shares of the industrial products company’s stock worth $6,650,000 after buying an additional 58,562 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Gorman-Rupp by 0.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 153,975 shares of the industrial products company’s stock worth $3,922,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 51.81% of the company’s stock.
Shares of Gorman-Rupp Co (GRC) opened at $27.24 on Thursday. Gorman-Rupp Co has a 1 year low of $23.55 and a 1 year high of $33.50. The firm has a market capitalization of $710.88, a P/E ratio of 22.32 and a beta of 1.18.
Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, February 9th. The industrial products company reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. Gorman-Rupp had a return on equity of 10.14% and a net margin of 7.00%. The company had revenue of $94.94 million for the quarter, compared to analyst estimates of $95.39 million. During the same period in the previous year, the company posted $0.23 earnings per share. The firm’s revenue was up .8% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Thursday, February 15th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is 49.02%.
Separately, Zacks Investment Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, October 31st.
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Gorman-Rupp Company Profile
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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