Creative Planning Buys 1,454 Shares of The Gorman-Rupp Company (NYSE:GRC)

Creative Planning raised its stake in The Gorman-Rupp Company (NYSE:GRC) by 19.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,888 shares of the industrial products company’s stock after acquiring an additional 1,454 shares during the period. Creative Planning’s holdings in Gorman-Rupp were worth $326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Gorman-Rupp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock valued at $49,156,000 after buying an additional 17,340 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of Gorman-Rupp by 3.3% in the second quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock worth $20,683,000 after purchasing an additional 17,977 shares in the last quarter. Grace & White Inc. NY lifted its position in shares of Gorman-Rupp by 1.5% in the second quarter. Grace & White Inc. NY now owns 350,704 shares of the industrial products company’s stock worth $12,874,000 after purchasing an additional 5,033 shares in the last quarter. Robeco Schweiz AG bought a new stake in shares of Gorman-Rupp in the second quarter worth $7,876,000. Finally, Renaissance Technologies LLC lifted its position in shares of Gorman-Rupp by 20.7% in the second quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock worth $4,434,000 after purchasing an additional 20,689 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Gorman-Rupp Stock Performance

Shares of GRC stock opened at $39.41 on Friday. The company’s fifty day simple moving average is $38.16 and its 200-day simple moving average is $37.01. The company has a quick ratio of 1.44, a current ratio of 2.45 and a debt-to-equity ratio of 1.05. The firm has a market cap of $1.03 billion, a PE ratio of 28.55, a P/E/G ratio of 1.60 and a beta of 0.91. The Gorman-Rupp Company has a 12 month low of $28.87 and a 12 month high of $42.24.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.10. The firm had revenue of $169.51 million for the quarter, compared to analyst estimates of $174.44 million. Gorman-Rupp had a net margin of 5.20% and a return on equity of 11.39%. Equities research analysts expect that The Gorman-Rupp Company will post 1.85 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Thursday, August 15th. Gorman-Rupp’s dividend payout ratio is currently 52.17%.

Gorman-Rupp 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.