PVG Asset Management Corp Takes Position in Gorman-Rupp Company (The) $GRC

PVG Asset Management Corp acquired a new stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,580 shares of the industrial products company’s stock, valued at approximately $844,000.

Other large investors have also modified their holdings of the company. Huntington National Bank acquired a new stake in shares of Gorman-Rupp in the fourth quarter worth approximately $31,000. NewEdge Advisors LLC increased its position in Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in Gorman-Rupp during the first quarter worth approximately $89,000. Fifth Third Bancorp raised its stake in Gorman-Rupp by 14.1% during the first quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 180 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in shares of Gorman-Rupp by 125.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 939 shares during the last quarter. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Freedom Capital raised Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy”.

Gorman-Rupp Stock Performance

NYSE:GRC opened at $81.55 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.82. The firm has a 50-day moving average of $81.61 and a two-hundred day moving average of $70.61. The stock has a market cap of $2.15 billion, a P/E ratio of 34.41, a PEG ratio of 2.34 and a beta of 1.29. Gorman-Rupp Company has a 1-year low of $39.64 and a 1-year high of $92.78.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.04. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%.The company had revenue of $186.07 million during the quarter, compared to the consensus estimate of $188.89 million. On average, research analysts expect that Gorman-Rupp Company will post 2.67 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 14th. Gorman-Rupp’s dividend payout ratio (DPR) is 32.07%.

About Gorman-Rupp

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.