Intech Investment Management LLC Reduces Stock Holdings in Gorman-Rupp Company (The) $GRC

Intech Investment Management LLC cut its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 31.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 9,566 shares of the industrial products company’s stock after selling 4,431 shares during the period. Intech Investment Management LLC’s holdings in Gorman-Rupp were worth $351,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GRC. Quantbot Technologies LP raised its stake in shares of Gorman-Rupp by 42.3% during the first quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 896 shares during the period. Police & Firemen s Retirement System of New Jersey increased its stake in Gorman-Rupp by 16.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,164 shares of the industrial products company’s stock worth $190,000 after buying an additional 746 shares during the period. EP Wealth Advisors LLC purchased a new stake in Gorman-Rupp during the 1st quarter worth $203,000. Jump Financial LLC acquired a new position in Gorman-Rupp in the 1st quarter worth $213,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Gorman-Rupp in the 1st quarter valued at about $221,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GRC shares. Wall Street Zen lowered Gorman-Rupp from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Gorman-Rupp Stock Performance

Shares of GRC stock opened at $46.49 on Monday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.71 and a beta of 1.24. Gorman-Rupp Company has a one year low of $30.87 and a one year high of $49.24. The company’s 50-day simple moving average is $45.70 and its 200-day simple moving average is $41.65. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.39 and a current ratio of 2.08.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gorman-Rupp had a net margin of 7.41% and a return on equity of 13.49%. The firm had revenue of $172.83 million during the quarter, compared to the consensus estimate of $174.61 million. Equities analysts anticipate that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.6%. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.19. Gorman-Rupp’s dividend payout ratio is currently 39.79%.

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.