Fruth Investment Management Cuts Stake in Gorman-Rupp Co (NYSEMKT:GRC)

Fruth Investment Management decreased its position in Gorman-Rupp Co (NYSEMKT:GRC) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,181 shares of the industrial products company’s stock after selling 568 shares during the period. Fruth Investment Management’s holdings in Gorman-Rupp were worth $1,812,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Gorman-Rupp by 99.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,692,418 shares of the industrial products company’s stock worth $53,142,000 after buying an additional 843,467 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Gorman-Rupp by 114.2% in the first quarter. Goldman Sachs Group Inc. now owns 455,593 shares of the industrial products company’s stock worth $14,306,000 after buying an additional 242,926 shares during the period. Parametric Portfolio Associates LLC bought a new position in shares of Gorman-Rupp during the first quarter worth about $4,574,000. Vanguard Group Inc. increased its position in shares of Gorman-Rupp by 6.9% in the first quarter. Vanguard Group Inc. now owns 1,561,859 shares of the industrial products company’s stock worth $49,042,000 after buying an additional 100,245 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Gorman-Rupp by 548.1% in the first quarter. Bank of America Corp DE now owns 42,134 shares of the industrial products company’s stock worth $1,323,000 after buying an additional 35,633 shares during the period.

Shares of Gorman-Rupp Co (GRC) traded down 0.471% during midday trading on Wednesday, reaching $26.405. The company’s stock had a trading volume of 3,070 shares. The company has a market capitalization of $688.99 million, a P/E ratio of 29.112 and a beta of 1.13. The company’s 50-day moving average price is $25.67 and its 200 day moving average price is $28.71. Gorman-Rupp Co has a 12-month low of $22.30 and a 12-month high of $34.45.

Gorman-Rupp (NYSEMKT:GRC) last released its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Gorman-Rupp had a return on equity of 6.66% and a net margin of 5.47%. The business had revenue of $92.60 million during the quarter, compared to analysts’ expectations of $95.24 million. During the same quarter last year, the business posted $0.24 EPS. The business’s revenue was down 7.6% on a year-over-year basis. On average, equities research analysts forecast that Gorman-Rupp Co will post $0.93 earnings per share for the current year.

A number of brokerages have weighed in on GRC. Zacks Investment Research downgraded Gorman-Rupp from a “hold” rating to a “sell” rating in a report on Friday, April 28th. TheStreet downgraded Gorman-Rupp from a “b-” rating to a “c+” rating in a report on Friday, May 12th.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.

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