Swiss National Bank Cuts Stake in Gorman-Rupp Company (The) $GRC

Swiss National Bank lowered its stake in Gorman-Rupp Company (The) (NYSE:GRC) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,647 shares of the industrial products company’s stock after selling 600 shares during the period. Swiss National Bank owned 0.15% of Gorman-Rupp worth $1,427,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Gorman-Rupp during the 4th quarter valued at approximately $1,100,000. Barclays PLC increased its stake in shares of Gorman-Rupp by 8.2% during the fourth quarter. Barclays PLC now owns 37,635 shares of the industrial products company’s stock worth $1,427,000 after purchasing an additional 2,858 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Gorman-Rupp by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,345,454 shares of the industrial products company’s stock worth $51,020,000 after purchasing an additional 3,574 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Gorman-Rupp by 880.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,047 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 6,328 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Gorman-Rupp by 7.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,646 shares of the industrial products company’s stock valued at $745,000 after buying an additional 1,301 shares in the last quarter. 59.26% of the stock is owned by hedge funds and other institutional investors.

Gorman-Rupp Trading Up 3.4%

GRC stock opened at $42.6520 on Monday. Gorman-Rupp Company has a 12-month low of $30.87 and a 12-month high of $43.79. The business’s 50-day moving average is $39.04 and its 200 day moving average is $37.36. The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.61 and a beta of 1.21.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $179.05 million for the quarter, compared to the consensus estimate of $174.60 million. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%. On average, sell-side analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. Gorman-Rupp’s dividend payout ratio is currently 37.56%.

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.