Creative Financial Designs Inc. ADV Reduces Position in Gorman-Rupp Company (The) $GRC

Creative Financial Designs Inc. ADV decreased its position in Gorman-Rupp Company (The) (NYSE:GRC) by 57.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,484 shares of the industrial products company’s stock after selling 12,808 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Gorman-Rupp were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Gorman-Rupp in the 3rd quarter worth approximately $4,007,000. Gamco Investors INC. ET AL increased its stake in shares of Gorman-Rupp by 6.9% in the second quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company’s stock worth $21,775,000 after acquiring an additional 38,260 shares during the period. Jane Street Group LLC raised its holdings in shares of Gorman-Rupp by 203.0% during the first quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock worth $1,702,000 after purchasing an additional 32,494 shares during the last quarter. Legal & General Group Plc lifted its position in Gorman-Rupp by 11.8% during the second quarter. Legal & General Group Plc now owns 263,975 shares of the industrial products company’s stock valued at $9,719,000 after purchasing an additional 27,856 shares during the period. Finally, Man Group plc lifted its position in Gorman-Rupp by 51.6% during the second quarter. Man Group plc now owns 81,212 shares of the industrial products company’s stock valued at $2,982,000 after purchasing an additional 27,630 shares during the period. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GRC shares. Wall Street Zen upgraded Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Gorman-Rupp has an average rating of “Buy”.

Gorman-Rupp Stock Performance

NYSE GRC opened at $65.40 on Tuesday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.13 and a beta of 1.27. The stock has a 50-day moving average of $56.58 and a 200 day moving average of $49.24. The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.74. Gorman-Rupp Company has a twelve month low of $30.87 and a twelve month high of $68.02.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, February 6th. The industrial products company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.12. Gorman-Rupp had a return on equity of 14.24% and a net margin of 7.77%.The business had revenue of $166.57 million during the quarter, compared to the consensus estimate of $167.08 million. Sell-side analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.2%. Gorman-Rupp’s payout ratio is currently 37.81%.

Gorman-Rupp Company Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.