Gorman-Rupp Company (The) $GRC Stock: ProShare Advisors LLC Lowers Stake

ProShare Advisors LLC cut its stake in Gorman-Rupp Company (The) (NYSE:GRC) by 95.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,658 shares of the industrial products company’s stock after selling 80,481 shares during the period. ProShare Advisors LLC’s holdings in Gorman-Rupp were worth $272,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Gorman-Rupp during the second quarter worth about $28,000. Integrated Wealth Concepts LLC bought a new stake in Gorman-Rupp in the 2nd quarter valued at about $36,000. TD Waterhouse Canada Inc. lifted its position in Gorman-Rupp by 374.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 493 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 389 shares during the last quarter. GAMMA Investing LLC boosted its stake in Gorman-Rupp by 34.3% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 153 shares during the period. Finally, USA Financial Formulas acquired a new position in Gorman-Rupp during the 1st quarter valued at about $53,000. 59.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gorman-Rupp

In other news, VP D. Patrick Wischmeier sold 5,153 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total transaction of $399,975.86. Following the completion of the transaction, the vice president owned 1,409 shares in the company, valued at approximately $109,366.58. This trade represents a 78.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GRC. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, September 9th. Zacks Research downgraded Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Gorman-Rupp currently has an average rating of “Hold”.

Gorman-Rupp Stock Performance

GRC opened at $69.97 on Friday. The business has a 50 day moving average price of $73.46 and a two-hundred day moving average price of $73.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.70 and a quick ratio of 1.82. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.88 and a beta of 1.28. Gorman-Rupp Company has a 1-year low of $42.31 and a 1-year high of $92.78.

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

Gorman-Rupp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. 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. Gorman-Rupp’s dividend payout ratio is currently 27.14%.

Gorman-Rupp Company Profile

Gorman-Rupp is a manufacturer of pumps and related pumping systems. Its products include self-priming and standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and engine-driven units, serving applications that require the movement of water and other fluids. The company’s products are used in markets including municipal water and wastewater, construction, industrial processing, agriculture, petroleum and fire protection. Gorman-Rupp serves customers in the United States and internationally.