State of Wyoming Makes New Investment in Gorman-Rupp Company (The) $GRC

State of Wyoming acquired a new position in Gorman-Rupp Company (The) (NYSE:GRC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,863 shares of the industrial products company’s stock, valued at approximately $423,000.

Several other institutional investors have also added to or reduced their stakes in GRC. Victory Capital Management Inc. raised its holdings in Gorman-Rupp by 2,664,700.0% in the 3rd quarter. Victory Capital Management Inc. now owns 266,480 shares of the industrial products company’s stock worth $12,367,000 after purchasing an additional 266,470 shares in the last quarter. Teton Advisors LLC bought a new position in Gorman-Rupp in the 3rd quarter worth $2,191,000. Allspring Global Investments Holdings LLC raised its holdings in Gorman-Rupp by 42.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 123,382 shares of the industrial products company’s stock worth $5,891,000 after purchasing an additional 37,037 shares in the last quarter. Jane Street Group LLC raised its holdings in Gorman-Rupp by 203.0% in the 1st quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock worth $1,702,000 after purchasing an additional 32,494 shares in the last quarter. Finally, Man Group plc grew its position in shares of Gorman-Rupp by 51.6% in the 2nd quarter. Man Group plc now owns 81,212 shares of the industrial products company’s stock worth $2,982,000 after buying an additional 27,630 shares during the period. 59.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GRC. Weiss Ratings raised shares of Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Finally, Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Gorman-Rupp has an average rating of “Buy”.

Gorman-Rupp Stock Up 0.3%

NYSE:GRC opened at $77.32 on Monday. The firm’s 50-day moving average price is $71.40 and its 200-day moving average price is $60.69. The company has a market capitalization of $2.04 billion, a PE ratio of 34.67, a P/E/G ratio of 2.28 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.93 and a quick ratio of 1.76. Gorman-Rupp Company has a 1-year low of $34.96 and a 1-year high of $79.54.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.49 by $0.19. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The company had revenue of $176.59 million for the quarter, compared to the consensus estimate of $170.61 million. On average, equities analysts predict that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Gorman-Rupp’s dividend payout ratio is 34.08%.

Gorman-Rupp Profile

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.