Gorman-Rupp Company (The) $GRC Shares Purchased by Grace & White Inc. NY

Grace & White Inc. NY lifted its position in Gorman-Rupp Company (The) (NYSE:GRC) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 349,291 shares of the industrial products company’s stock after purchasing an additional 1,632 shares during the quarter. Gorman-Rupp makes up 2.3% of Grace & White Inc. NY’s investment portfolio, making the stock its 13th biggest holding. Grace & White Inc. NY’s holdings in Gorman-Rupp were worth $12,826,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp acquired a new stake in shares of Gorman-Rupp in the 1st quarter valued at about $45,000. Quantbot Technologies LP lifted its position in Gorman-Rupp by 42.3% during the 1st quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 896 shares during the period. EP Wealth Advisors LLC acquired a new stake in Gorman-Rupp during the 1st quarter worth approximately $203,000. Jump Financial LLC acquired a new stake in Gorman-Rupp during the 1st quarter worth approximately $213,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Gorman-Rupp during the 1st quarter worth approximately $221,000. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Stock Down 2.0%

Gorman-Rupp stock opened at $44.32 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average of $43.58 and a two-hundred day moving average of $38.95. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 1.71 and a beta of 1.22. Gorman-Rupp Company has a twelve month low of $30.87 and a twelve month high of $48.12.

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

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 37.56%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a research report on Wednesday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average 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.