Dimensional Fund Advisors LP Reduces Stock Position in Gorman-Rupp Company (The) $GRC

Dimensional Fund Advisors LP cut its holdings in Gorman-Rupp Company (The) (NYSE:GRC) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,277,005 shares of the industrial products company’s stock after selling 37,572 shares during the period. Dimensional Fund Advisors LP owned about 4.84% of Gorman-Rupp worth $79,337,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GRC. Geneos Wealth Management Inc. acquired a new position in shares of Gorman-Rupp during the 1st quarter worth about $89,000. Calamos Advisors LLC acquired a new stake in shares of Gorman-Rupp during the 1st quarter worth about $326,000. Principal Financial Group Inc. acquired a new stake in shares of Gorman-Rupp during the 1st quarter worth about $923,000. Fifth Third Bancorp lifted its stake in Gorman-Rupp by 14.1% during the first quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 180 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Gorman-Rupp during the first quarter worth approximately $752,000. 59.26% of the stock is owned by hedge funds and other institutional investors.

Gorman-Rupp Stock Up 2.6%

GRC opened at $80.53 on Friday. Gorman-Rupp Company has a one year low of $39.64 and a one year high of $92.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.76 and a current ratio of 2.81. The stock has a market capitalization of $2.13 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28. The business’s 50-day simple moving average is $81.43 and its 200-day simple moving average is $70.40.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $186.07 million during the quarter, compared to analysts’ expectations 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 EPS for the current year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a $0.19 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a yield of 0.9%. Gorman-Rupp’s payout ratio is currently 32.07%.

Analysts Set New Price Targets

Several equities analysts have commented on GRC shares. Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Zacks Research upgraded shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Gorman-Rupp currently has a consensus rating of “Buy”.

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.