9,200 Shares in Gorman-Rupp Company (The) $GRC Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Gorman-Rupp Company (The) (NYSE:GRC) in the 3rd quarter, Holdings Channel reports. The fund bought 9,200 shares of the industrial products company’s stock, valued at approximately $685,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new position in shares of Gorman-Rupp in the third quarter worth approximately $852,000. D.A. Davidson & CO. raised its position in shares of Gorman-Rupp by 26.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,471 shares of the industrial products company’s stock valued at $631,000 after purchasing an additional 1,765 shares during the period. Sterling Capital Management LLC raised its position in shares of Gorman-Rupp by 849.3% during the 3rd quarter. Sterling Capital Management LLC now owns 712 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 637 shares during the period. Inspire Investing LLC raised its position in shares of Gorman-Rupp by 11.9% during the 3rd quarter. Inspire Investing LLC now owns 8,443 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 899 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Gorman-Rupp by 24.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,521 shares of the industrial products company’s stock valued at $411,000 after buying an additional 1,091 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Insiders Place Their Bets

In other Gorman-Rupp news, VP D. Patrick Wischmeier sold 5,153 shares of Gorman-Rupp stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total value of $399,975.86. Following the sale, the vice president directly owned 1,409 shares in the company, valued at approximately $109,366.58. The trade was a 78.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GRC shares. Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Zacks Research lowered Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Gorman-Rupp Price Performance

GRC stock traded down $0.41 during midday trading on Friday, hitting $67.69. The company’s stock had a trading volume of 132,440 shares, compared to its average volume of 172,422. Gorman-Rupp Company has a 12 month low of $42.31 and a 12 month high of $92.78. The company has a quick ratio of 1.82, a current ratio of 2.70 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.97 and a beta of 1.28. The company has a 50 day moving average of $73.82 and a two-hundred day moving average of $72.81.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Friday, October 23rd. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.16. The business had revenue of $193.25 million during the quarter, compared to analyst estimates of $181.55 million. Gorman-Rupp had a net margin of 10.20% and a return on equity of 17.13%. On average, analysts expect that Gorman-Rupp Company will post 2.88 EPS for the current year.

Gorman-Rupp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.2%. Gorman-Rupp’s dividend payout ratio is 27.14%.

Gorman-Rupp Company Profile

Gorman-Rupp Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.

The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.

Founded in 1933 by J.C.