US Bancorp DE Sells 41,913 Shares of Gorman-Rupp Co (NYSE:GRC)

US Bancorp DE lowered its holdings in Gorman-Rupp Co (NYSE:GRC) by 39.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,298 shares of the industrial products company’s stock after selling 41,913 shares during the period. US Bancorp DE owned about 0.25% of Gorman-Rupp worth $2,412,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GRC. First Trust Advisors LP increased its position in shares of Gorman-Rupp by 19.1% during the 4th quarter. First Trust Advisors LP now owns 227,413 shares of the industrial products company’s stock valued at $8,528,000 after purchasing an additional 36,484 shares during the last quarter. Morgan Stanley grew its position in shares of Gorman-Rupp by 3.6% during the 2nd quarter. Morgan Stanley now owns 122,864 shares of the industrial products company’s stock valued at $4,034,000 after acquiring an additional 4,284 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Gorman-Rupp during the 2nd quarter valued at approximately $2,348,000. Fruth Investment Management increased its stake in shares of Gorman-Rupp by 5.6% during the 4th quarter. Fruth Investment Management now owns 66,095 shares of the industrial products company’s stock worth $2,478,000 after purchasing an additional 3,484 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Gorman-Rupp by 21.8% during the 3rd quarter. California Public Employees Retirement System now owns 46,274 shares of the industrial products company’s stock worth $1,610,000 after purchasing an additional 8,281 shares during the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.

Shares of NYSE GRC traded down $0.21 during trading on Friday, reaching $35.82. 646 shares of the stock traded hands, compared to its average volume of 39,187. Gorman-Rupp Co has a 52-week low of $29.00 and a 52-week high of $39.60. The company has a 50-day moving average of $37.32 and a 200-day moving average of $35.12. The stock has a market capitalization of $941.57 million, a P/E ratio of 26.07 and a beta of 0.92.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Gorman-Rupp had a return on equity of 11.08% and a net margin of 8.99%. The firm had revenue of $93.70 million during the quarter, compared to analysts’ expectations of $99.02 million. During the same period last year, the business posted $0.43 EPS. The company’s revenue was down 9.0% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $0.145 per share. The ex-dividend date is Thursday, February 13th. This represents a $0.58 dividend on an annualized basis and a yield of 1.62%.

Separately, Sidoti lowered Gorman-Rupp from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Tuesday, December 17th.

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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