Ladenburg Thalmann Financial Services Inc. Buys 657 Shares of Gorman-Rupp Co (NYSE:GRC)

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Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Gorman-Rupp Co (NYSE:GRC) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,082 shares of the industrial products company’s stock after buying an additional 657 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Gorman-Rupp were worth $725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Susquehanna International Group LLP bought a new position in Gorman-Rupp during the second quarter worth about $203,000. Nuveen Asset Management LLC bought a new position in Gorman-Rupp during the second quarter worth about $2,348,000. Morgan Stanley boosted its holdings in Gorman-Rupp by 3.6% during the second quarter. Morgan Stanley now owns 122,864 shares of the industrial products company’s stock worth $4,034,000 after buying an additional 4,284 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Gorman-Rupp by 211.1% during the second quarter. AQR Capital Management LLC now owns 45,960 shares of the industrial products company’s stock worth $1,509,000 after buying an additional 31,187 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Gorman-Rupp by 17.0% during the second quarter. Bank of America Corp DE now owns 25,262 shares of the industrial products company’s stock worth $830,000 after buying an additional 3,672 shares during the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

NYSE GRC opened at $34.15 on Friday. The firm has a market cap of $875.21 million, a P/E ratio of 21.47 and a beta of 0.97. The stock’s 50-day moving average is $32.36 and its 200-day moving average is $32.29. Gorman-Rupp Co has a one year low of $29.00 and a one year high of $36.92.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The company had revenue of $108.30 million for the quarter, compared to analyst estimates of $112.95 million. Gorman-Rupp had a return on equity of 13.12% and a net margin of 9.22%. Gorman-Rupp’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. 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.

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Institutional Ownership by Quarter for Gorman-Rupp (NYSE:GRC)

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