Jupiter Topco LLC Invests $837,000 in Gorman-Rupp Company (The) $GRC

Jupiter Topco LLC purchased a new position in shares of Gorman-Rupp Company (The) (NYSE:GRC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,114 shares of the industrial products company’s stock, valued at approximately $837,000.

Several other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in Gorman-Rupp by 9.8% during the 1st 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Gorman-Rupp by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company’s stock valued at $2,278,000 after acquiring an additional 7,667 shares during the period. Jane Street Group LLC boosted its position in shares of Gorman-Rupp by 203.0% in the first quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock valued at $1,702,000 after acquiring an additional 32,494 shares during the period. Rhumbline Advisers grew its stake in shares of Gorman-Rupp by 17.4% in the second quarter. Rhumbline Advisers now owns 36,865 shares of the industrial products company’s stock valued at $1,354,000 after acquiring an additional 5,462 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Gorman-Rupp by 8.6% in the second quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company’s stock valued at $1,864,000 after acquiring an additional 4,020 shares in the last quarter. 59.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GRC has been the subject of several analyst reports. Wall Street Zen cut shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Freedom Capital upgraded shares of Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Gorman-Rupp Stock Performance

NYSE:GRC opened at $75.25 on Monday. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 2.17 and a beta of 1.29. Gorman-Rupp Company has a fifty-two week low of $41.98 and a fifty-two week high of $92.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81. The stock has a fifty day moving average price of $80.52 and a 200-day moving average price of $74.44.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $186.07 million for the quarter, compared to analysts’ expectations of $188.89 million. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%. As a group, equities analysts anticipate that Gorman-Rupp Company will post 2.67 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 32.07%.

Insider Buying and Selling

In other news, VP D. Patrick Wischmeier sold 5,153 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total value of $399,975.86. Following the completion of the transaction, the vice president directly owned 1,409 shares in the company, valued at approximately $109,366.58. The trade was a 78.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.60% of the stock is currently owned by corporate insiders.

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.