Short Interest in The Gorman-Rupp Company (NYSE:GRC) Rises By 24.7%

The Gorman-Rupp Company (NYSE:GRC) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 176,200 shares, a growth of 24.7% from the March 31st total of 141,300 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average trading volume of 76,600 shares, the days-to-cover ratio is currently 2.3 days.

Gorman-Rupp Trading Up 0.4 %

Shares of GRC stock traded up $0.12 during trading hours on Tuesday, reaching $33.22. 144,490 shares of the stock were exchanged, compared to its average volume of 76,189. The firm has a market capitalization of $870.90 million, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92. Gorman-Rupp has a 12-month low of $23.62 and a 12-month high of $40.00. The company’s 50-day moving average price is $37.11 and its 200-day moving average price is $34.52. The company has a current ratio of 2.35, a quick ratio of 1.31 and a debt-to-equity ratio of 1.09.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The firm had revenue of $159.27 million during the quarter, compared to the consensus estimate of $168.49 million. Gorman-Rupp had a return on equity of 10.60% and a net margin of 5.52%. As a group, equities analysts anticipate that Gorman-Rupp will post 1.55 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, May 14th. Gorman-Rupp’s payout ratio is currently 52.17%.

Hedge Funds Weigh In On Gorman-Rupp

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Gorman-Rupp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company’s stock valued at $74,230,000 after buying an additional 19,797 shares during the period. Dimensional Fund Advisors LP increased its holdings in Gorman-Rupp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,321,685 shares of the industrial products company’s stock worth $46,960,000 after purchasing an additional 13,129 shares during the period. Gamco Investors INC. ET AL raised its position in Gorman-Rupp by 2.8% during the 3rd quarter. Gamco Investors INC. ET AL now owns 552,638 shares of the industrial products company’s stock valued at $18,182,000 after purchasing an additional 15,300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Gorman-Rupp by 9.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company’s stock valued at $17,911,000 after purchasing an additional 46,396 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Gorman-Rupp by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock worth $11,244,000 after buying an additional 944 shares during the period. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.