Rhumbline Advisers Sells 4,049 Shares of The Gorman-Rupp Company (NYSE:GRC)

Rhumbline Advisers reduced its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,345 shares of the industrial products company’s stock after selling 4,049 shares during the quarter. Rhumbline Advisers’ holdings in Gorman-Rupp were worth $1,114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Gorman-Rupp by 76.8% in the second quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 400 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Gorman-Rupp by 517.0% in the 2nd quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,339 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Gorman-Rupp by 63.8% in the 1st quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company’s stock valued at $80,000 after buying an additional 797 shares during the last quarter. New York State Teachers Retirement System bought a new position in Gorman-Rupp in the 1st quarter valued at approximately $82,000. Finally, EntryPoint Capital LLC bought a new position in Gorman-Rupp during the 1st quarter worth approximately $131,000. 59.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

Gorman-Rupp Price Performance

GRC opened at $38.38 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.45 and a quick ratio of 1.44. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 1.51 and a beta of 0.92. The firm’s fifty day moving average price is $38.58 and its two-hundred day moving average price is $36.91. The Gorman-Rupp Company has a 1 year low of $28.87 and a 1 year high of $42.24.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. Gorman-Rupp had a return on equity of 11.39% and a net margin of 5.20%. The business had revenue of $169.51 million for the quarter, compared to analysts’ expectations of $174.44 million. As a group, analysts anticipate that The Gorman-Rupp Company will post 1.85 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.88%. Gorman-Rupp’s payout ratio is presently 52.17%.

About Gorman-Rupp

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.