Teacher Retirement System of Texas Sells 9,400 Shares of Gorman-Rupp Company (The) (NYSE:GRC)

Teacher Retirement System of Texas cut its stake in Gorman-Rupp Company (The) (NYSE:GRC) by 40.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,919 shares of the industrial products company’s stock after selling 9,400 shares during the period. Teacher Retirement System of Texas owned about 0.05% of Gorman-Rupp worth $489,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Gorman-Rupp by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,329 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 1,093 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Gorman-Rupp in the 1st quarter worth approximately $45,000. GAMMA Investing LLC boosted its stake in shares of Gorman-Rupp by 4,451.0% during the first quarter. GAMMA Investing LLC now owns 6,599 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 6,454 shares in the last quarter. Aurora Private Wealth Inc. bought a new position in shares of Gorman-Rupp during the first quarter valued at approximately $1,262,000. Finally, Nuveen Asset Management LLC increased its holdings in Gorman-Rupp by 22.1% during the fourth quarter. Nuveen Asset Management LLC now owns 84,790 shares of the industrial products company’s stock valued at $3,215,000 after buying an additional 15,362 shares during the period. 59.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th.

Gorman-Rupp Trading Up 1.2%

Shares of NYSE GRC opened at $37.09 on Thursday. Gorman-Rupp Company has a 1-year low of $30.87 and a 1-year high of $43.79. The business has a fifty day moving average price of $37.17 and a 200 day moving average price of $36.79. The stock has a market capitalization of $975.10 million, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.42 and a quick ratio of 1.35.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Gorman-Rupp had a net margin of 6.68% and a return on equity of 13.57%. The business had revenue of $163.95 million during the quarter, compared to the consensus estimate of $164.84 million. Equities research analysts expect that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a dividend of $0.185 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a yield of 2.00%. Gorman-Rupp’s payout ratio is 43.79%.

Gorman-Rupp Company Profile

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.