Jupiter Topco LLC Buys Shares of 9,114 Gorman-Rupp Company (The) $GRC

Jupiter Topco LLC purchased a new stake in Gorman-Rupp Company (The) (NYSE:GRC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,114 shares of the industrial products company’s stock, valued at approximately $837,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Gorman-Rupp during the 2nd quarter worth $165,116,000. Victory Capital Management Inc. grew its position in Gorman-Rupp by 211.6% in the fourth quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock valued at $39,655,000 after acquiring an additional 564,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Gorman-Rupp by 2.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 753,862 shares of the industrial products company’s stock worth $34,985,000 after acquiring an additional 15,178 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Gorman-Rupp by 0.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 599,520 shares of the industrial products company’s stock worth $28,627,000 after acquiring an additional 2,970 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Gorman-Rupp by 326.1% in the first quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock worth $32,581,000 after acquiring an additional 401,340 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

Wall Street Analyst Weigh In

GRC has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Finally, Zacks Research lowered shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Gorman-Rupp has an average rating of “Hold”.

Insider Buying and Selling

In other Gorman-Rupp news, VP D. Patrick Wischmeier sold 5,153 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total value of $399,975.86. Following the completion of the transaction, the vice president directly owned 1,409 shares in the company, valued at approximately $109,366.58. This represents a 78.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.60% of the stock is currently owned by corporate insiders.

Gorman-Rupp Price Performance

Shares of GRC opened at $75.25 on Monday. The company has a quick ratio of 1.82, a current ratio of 2.81 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.99 billion, a PE ratio of 31.75, a PEG ratio of 2.17 and a beta of 1.29. Gorman-Rupp Company has a 12-month low of $41.98 and a 12-month high of $92.78. The business has a 50-day simple moving average of $80.52 and a two-hundred day simple moving average of $74.44.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $186.07 million for the quarter, compared to analyst estimates of $188.89 million. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%. Analysts anticipate that Gorman-Rupp Company will post 2.67 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, August 14th. This represents a $0.76 annualized dividend and a yield of 1.0%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 32.07%.

Gorman-Rupp 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.