AlphaQuest LLC Purchases 16,478 Shares of Gorman-Rupp Company (The) $GRC

AlphaQuest LLC lifted its position in Gorman-Rupp Company (The) (NYSE:GRC) by 2,963.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,034 shares of the industrial products company’s stock after buying an additional 16,478 shares during the period. AlphaQuest LLC’s holdings in Gorman-Rupp were worth $625,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GRC. Wall Street Zen downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Gorman-Rupp has a consensus rating of “Buy”.

Gorman-Rupp Stock Down 0.5%

Shares of GRC stock opened at $46.32 on Tuesday. Gorman-Rupp Company has a 12 month low of $30.87 and a 12 month high of $49.24. The stock has a market cap of $1.22 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.76 and a beta of 1.22. 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 company has a 50 day simple moving average of $44.66 and a two-hundred day simple moving average of $39.99.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Gorman-Rupp had a net margin of 7.41% and a return on equity of 13.67%. The business had revenue of $172.83 million for the quarter, compared to analysts’ expectations of $174.61 million. On average, research analysts expect that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.19 per share. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 14th. Gorman-Rupp’s dividend payout ratio is currently 38.74%.

About Gorman-Rupp

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.