Gorman-Rupp Company (The) (NYSE:GRC) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 2.4% during the first quarter, Holdings Channel.com reports. The firm owned 24,110 shares of the industrial products company’s stock after selling 601 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Gorman-Rupp were worth $846,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Fifth Third Bancorp bought a new stake in shares of Gorman-Rupp during the 1st quarter worth about $45,000. GAMMA Investing LLC increased its stake in shares of Gorman-Rupp by 4,451.0% during the first quarter. GAMMA Investing LLC now owns 6,599 shares of the industrial products company’s stock valued at $232,000 after acquiring an additional 6,454 shares during the period. Nuveen Asset Management LLC raised its holdings in Gorman-Rupp by 22.1% during the fourth quarter. Nuveen Asset Management LLC now owns 84,790 shares of the industrial products company’s stock worth $3,215,000 after purchasing an additional 15,362 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Gorman-Rupp by 40.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,245 shares of the industrial products company’s stock worth $2,171,000 after purchasing an additional 16,579 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Gorman-Rupp by 56.3% in the fourth quarter. Deutsche Bank AG now owns 19,773 shares of the industrial products company’s stock worth $750,000 after purchasing an additional 7,125 shares during the period. Institutional investors and hedge funds own 59.26% of the company’s stock.

Analyst Ratings Changes

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 Price Performance

Shares of Gorman-Rupp stock opened at $36.71 on Tuesday. Gorman-Rupp Company has a 52 week low of $30.87 and a 52 week high of $43.79. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average price is $36.61 and its two-hundred day moving average price is $36.87. The stock has a market cap of $965.11 million, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.43 and a beta of 1.19.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $163.95 million for the quarter, compared to the consensus estimate of $164.84 million. Gorman-Rupp had a net margin of 6.68% and a return on equity of 13.57%. As a group, sell-side analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Thursday, May 15th. Gorman-Rupp’s payout ratio is 43.79%.

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.