UBS Group AG Reduces Position in Gorman-Rupp Company (The) $GRC

UBS Group AG cut its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 16.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 61,353 shares of the industrial products company’s stock after selling 11,937 shares during the quarter. UBS Group AG’s holdings in Gorman-Rupp were worth $2,930,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GRC. Goldman Sachs Group Inc. lifted its holdings in Gorman-Rupp by 9.8% during the first quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock valued at $9,888,000 after purchasing an additional 25,033 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Gorman-Rupp by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company’s stock valued at $2,278,000 after purchasing an additional 7,667 shares during the last quarter. Jane Street Group LLC lifted its holdings in 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 valued at $1,702,000 after purchasing an additional 32,494 shares during the last quarter. Rhumbline Advisers lifted its holdings in Gorman-Rupp by 17.4% during the second quarter. Rhumbline Advisers now owns 36,865 shares of the industrial products company’s stock valued at $1,354,000 after purchasing an additional 5,462 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Gorman-Rupp by 8.6% during the second quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company’s stock valued at $1,864,000 after purchasing an additional 4,020 shares during the last quarter. 59.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on GRC. Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Weiss Ratings downgraded shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Gorman-Rupp Trading Up 0.0%

Shares of Gorman-Rupp stock opened at $72.67 on Tuesday. Gorman-Rupp Company has a 12-month low of $34.96 and a 12-month high of $79.54. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.15 and a beta of 1.34. The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $68.71 and its 200-day moving average price is $58.72.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.19. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The firm had revenue of $176.59 million for the quarter, compared to the consensus estimate of $170.61 million. On average, equities analysts expect that Gorman-Rupp Company will post 2.6 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Gorman-Rupp’s dividend payout ratio is presently 34.08%.

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.