The Gorman-Rupp Company (NYSE:GRC) Short Interest Up 28.2% in May

The Gorman-Rupp Company (NYSE:GRC) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 172,300 shares, an increase of 28.2% from the April 30th total of 134,400 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 70,600 shares, the short-interest ratio is presently 2.4 days.

Gorman-Rupp Trading Up 0.1%

NYSE GRC opened at $36.54 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. Gorman-Rupp has a 52 week low of $30.87 and a 52 week high of $43.79. The business has a 50 day moving average price of $35.54 and a 200-day moving average price of $37.64. The company has a market cap of $960.78 million, a price-to-earnings ratio of 23.88, a P/E/G ratio of 1.54 and a beta of 1.20.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. The business had revenue of $163.95 million during the quarter, compared to the consensus estimate of $164.84 million. As a group, equities analysts expect that Gorman-Rupp will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.03%. Gorman-Rupp’s dividend payout ratio is presently 43.79%.

Hedge Funds Weigh In On Gorman-Rupp

A number of hedge funds have recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Gorman-Rupp during the 1st quarter valued at approximately $3,449,000. Aurora Investment Counsel purchased a new position in Gorman-Rupp during the fourth quarter worth about $2,083,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Gorman-Rupp by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 756,083 shares of the industrial products company’s stock valued at $26,540,000 after acquiring an additional 53,006 shares in the last quarter. JPMorgan Chase & Co. raised its position in Gorman-Rupp by 57.3% during the fourth quarter. JPMorgan Chase & Co. now owns 115,536 shares of the industrial products company’s stock valued at $4,381,000 after purchasing an additional 42,082 shares in the last quarter. Finally, Cooke & Bieler LP grew its position in Gorman-Rupp by 8.5% during the first quarter. Cooke & Bieler LP now owns 481,965 shares of the industrial products company’s stock valued at $16,917,000 after acquiring an additional 37,738 shares during the last quarter. 59.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th.

Gorman-Rupp Company 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.