Gorman-Rupp Company (The) (NYSE:GRC) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,663 shares of the industrial products company’s stock after selling 362 shares during the period. Nisa Investment Advisors LLC’s holdings in Gorman-Rupp were worth $269,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Gorman-Rupp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,153 shares of the industrial products company’s stock worth $6,604,000 after purchasing an additional 1,266 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Gorman-Rupp in the fourth quarter valued at approximately $447,000. Raymond James Financial Inc. bought a new position in Gorman-Rupp during the fourth quarter worth $1,100,000. Intech Investment Management LLC bought a new position in Gorman-Rupp during the fourth quarter worth $344,000. Finally, American Century Companies Inc. increased its holdings in Gorman-Rupp by 10.8% in the 4th quarter. American Century Companies Inc. now owns 42,455 shares of the industrial products company’s stock valued at $1,610,000 after buying an additional 4,155 shares during the period. Institutional investors and hedge funds own 59.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Gorman-Rupp Price Performance

NYSE GRC opened at $37.49 on Friday. The stock has a market cap of $985.48 million, a price-to-earnings ratio of 22.18, a PEG ratio of 1.43 and a beta of 1.17. Gorman-Rupp Company has a 52-week low of $30.87 and a 52-week high of $43.79. The business has a 50 day simple moving average of $37.16 and a 200 day simple moving average of $36.79. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.42.

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

Gorman-Rupp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, May 15th. Gorman-Rupp’s payout ratio is 43.79%.

About Gorman-Rupp

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.