Inspire Investing LLC Raises Stock Holdings in Gorman-Rupp Company (The) $GRC

Inspire Investing LLC raised its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 7.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 10,749 shares of the industrial products company’s stock after buying an additional 783 shares during the period. Inspire Investing LLC’s holdings in Gorman-Rupp were worth $395,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Gorman-Rupp by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 756,083 shares of the industrial products company’s stock valued at $26,540,000 after buying an additional 53,006 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Gorman-Rupp by 6.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 554,728 shares of the industrial products company’s stock valued at $19,471,000 after buying an additional 31,790 shares during the last quarter. Cooke & Bieler LP raised its stake in shares of Gorman-Rupp by 8.5% during the 1st quarter. Cooke & Bieler LP now owns 481,965 shares of the industrial products company’s stock valued at $16,917,000 after buying an additional 37,738 shares during the last quarter. Grace & White Inc. NY raised its stake in shares of Gorman-Rupp by 0.5% during the 2nd quarter. Grace & White Inc. NY now owns 349,291 shares of the industrial products company’s stock valued at $12,826,000 after buying an additional 1,632 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Gorman-Rupp by 9.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock valued at $9,888,000 after buying an additional 25,033 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

NYSE:GRC opened at $44.94 on Tuesday. Gorman-Rupp Company has a 52 week low of $30.87 and a 52 week high of $48.12. The company has a quick ratio of 1.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $1.18 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22. The stock’s 50-day moving average price is $43.64 and its 200-day moving average price is $39.06.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, July 25th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%.The company had revenue of $179.05 million for the quarter, compared to analysts’ expectations of $174.60 million. As a group, equities analysts expect that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, August 15th. Gorman-Rupp’s payout ratio is presently 37.56%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Gorman-Rupp presently has a consensus rating of “Buy”.

Gorman-Rupp Profile

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.