Y Intercept Hong Kong Ltd Sells 3,343 Shares of Gorman-Rupp Company (The) (NYSE:GRC)

Y Intercept Hong Kong Ltd lessened its stake in Gorman-Rupp Company (The) (NYSE:GRC) by 33.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,570 shares of the industrial products company’s stock after selling 3,343 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Gorman-Rupp were worth $231,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Gorman-Rupp by 8.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,329 shares of the industrial products company’s stock valued at $468,000 after buying an additional 1,093 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Gorman-Rupp in the 1st quarter valued at about $45,000. GAMMA Investing LLC grew its position in shares of Gorman-Rupp by 4,451.0% in the 1st quarter. GAMMA Investing LLC now owns 6,599 shares of the industrial products company’s stock valued at $232,000 after buying an additional 6,454 shares during the last quarter. Aurora Private Wealth Inc. bought a new stake in shares of Gorman-Rupp in the 1st quarter valued at about $1,262,000. Finally, Nuveen Asset Management LLC grew its position in shares of Gorman-Rupp by 22.1% in the 4th quarter. Nuveen Asset Management LLC now owns 84,790 shares of the industrial products company’s stock valued at $3,215,000 after buying an additional 15,362 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Down 0.5%

Shares of Gorman-Rupp stock opened at $41.14 on Thursday. Gorman-Rupp Company has a one year low of $30.87 and a one year high of $43.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.35. The stock’s 50-day moving average is $37.24 and its 200 day moving average is $36.88. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.56 and a beta of 1.17.

Gorman-Rupp (NYSE:GRC) last announced its 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. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%. The company had revenue of $179.05 million for the quarter, compared to analyst estimates of $174.60 million. Equities research analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $0.185 per share. The ex-dividend date is Friday, August 15th. This represents a $0.74 annualized dividend and a dividend yield of 1.80%. Gorman-Rupp’s payout ratio is 37.56%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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.