Russell Investments Group Ltd. Sells 4,371 Shares of Gorman-Rupp Company (The) $GRC

Russell Investments Group Ltd. cut its stake in Gorman-Rupp Company (The) (NYSE:GRC) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,792 shares of the industrial products company’s stock after selling 4,371 shares during the period. Russell Investments Group Ltd. owned about 0.20% of Gorman-Rupp worth $1,888,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp bought a new position in shares of Gorman-Rupp in the first quarter worth about $45,000. Central Pacific Bank Trust Division bought a new position in Gorman-Rupp during the 1st quarter worth about $53,000. Aquatic Capital Management LLC grew its holdings in Gorman-Rupp by 46.2% during the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 1,339 shares in the last quarter. Swisher Financial Concepts Inc. bought a new position in Gorman-Rupp during the 1st quarter worth about $205,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Gorman-Rupp during the 1st quarter worth about $221,000. 59.26% of the stock is currently owned by institutional investors.

Gorman-Rupp Stock Up 2.9%

Shares of Gorman-Rupp stock opened at $43.48 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.39. Gorman-Rupp Company has a 1 year low of $30.87 and a 1 year high of $43.79. The firm’s 50-day moving average is $39.33 and its two-hundred day moving average is $37.44. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.59 and a beta of 1.21.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. Gorman-Rupp had a net margin of 7.69% and a return on equity of 13.63%. The company had revenue of $179.05 million for the quarter, compared to analysts’ expectations of $174.60 million. As a group, research analysts expect that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

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