Fruth Investment Management lowered its stake in shares of Gorman-Rupp Co (NYSEMKT:GRC) by 0.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 71,181 shares of the industrial products company’s stock after selling 568 shares during the period. Fruth Investment Management owned 0.27% of Gorman-Rupp worth $1,812,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in GRC. Citadel Advisors LLC boosted its stake in Gorman-Rupp by 79.2% in the first quarter. Citadel Advisors LLC now owns 18,747 shares of the industrial products company’s stock worth $589,000 after buying an additional 8,286 shares during the last quarter. Dimensional Fund Advisors LP raised 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. Geode Capital Management LLC raised its position in shares of Gorman-Rupp by 3.3% in the first quarter. Geode Capital Management LLC now owns 132,688 shares of the industrial products company’s stock worth $4,166,000 after buying an additional 4,229 shares during the period. Vanguard Group Inc. raised 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, Teachers Advisors LLC raised its position in shares of Gorman-Rupp by 2.5% in the first quarter. Teachers Advisors LLC now owns 40,114 shares of the industrial products company’s stock worth $1,260,000 after buying an additional 977 shares during the period.
Shares of Gorman-Rupp Co (NYSEMKT GRC) traded up 11.71% on Friday, hitting $29.76. The stock had a trading volume of 113,681 shares. Gorman-Rupp Co has a one year low of $22.30 and a one year high of $34.45. The stock has a market cap of $776.53 million, a PE ratio of 32.81 and a beta of 1.13. The company’s 50 day moving average is $26.26 and its 200 day moving average is $28.54.
Gorman-Rupp (NYSEMKT:GRC) last posted its earnings results on Friday, July 28th. The industrial products company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.13. The company had revenue of $97.87 million during the quarter, compared to the consensus estimate of $92.90 million. Gorman-Rupp had a net margin of 5.47% and a return on equity of 6.66%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. Equities research analysts predict that Gorman-Rupp Co will post $0.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, August 11th. Gorman-Rupp’s dividend payout ratio is currently 45.65%.
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GRC has been the subject of a number of recent research reports. TheStreet lowered Gorman-Rupp from a “b-” rating to a “c+” rating in a research note on Friday, May 12th. Zacks Investment Research upgraded Gorman-Rupp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 27th.
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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