SG Americas Securities LLC Raises Stock Position in Gorman-Rupp Company (The) $GRC

SG Americas Securities LLC raised its position in Gorman-Rupp Company (The) (NYSE:GRC) by 65.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 18,361 shares of the industrial products company’s stock after acquiring an additional 7,265 shares during the period. SG Americas Securities LLC’s holdings in Gorman-Rupp were worth $1,141,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GRC. Corient Private Wealth LLC purchased a new stake in shares of Gorman-Rupp during the 4th quarter valued at approximately $205,000. Invesco Ltd. grew its position in Gorman-Rupp by 23.1% in the fourth quarter. Invesco Ltd. now owns 95,126 shares of the industrial products company’s stock worth $4,542,000 after acquiring an additional 17,867 shares during the period. Summit Global Investments purchased a new position in Gorman-Rupp in the fourth quarter worth approximately $202,000. EP Wealth Advisors LLC purchased a new position in Gorman-Rupp in the fourth quarter worth approximately $268,000. Finally, NewEdge Advisors LLC increased its stake in Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Performance

Shares of GRC stock opened at $84.29 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.76 and a current ratio of 2.93. The firm has a market cap of $2.23 billion, a P/E ratio of 37.80, a P/E/G ratio of 2.49 and a beta of 1.28. The firm’s 50 day moving average price is $79.51 and its 200-day moving average price is $66.15. Gorman-Rupp Company has a one year low of $36.40 and a one year high of $92.78.

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

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.9%. Gorman-Rupp’s payout ratio is presently 34.08%.

Analysts Set New Price Targets

A number of research firms have commented on GRC. Zacks Research downgraded Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings lowered shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

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.