The Gorman-Rupp Company (NYSE:GRC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in The Gorman-Rupp Company (NYSE:GRC) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,535 shares of the industrial products company’s stock after selling 469 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Gorman-Rupp were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GRC. Toth Financial Advisory Corp acquired a new position in shares of Gorman-Rupp in the 1st quarter valued at $624,000. BNP Paribas Financial Markets increased its stake in Gorman-Rupp by 101.1% in the 1st quarter. BNP Paribas Financial Markets now owns 18,455 shares of the industrial products company’s stock valued at $730,000 after buying an additional 9,278 shares during the period. Russell Investments Group Ltd. increased its stake in Gorman-Rupp by 2.3% in the 1st quarter. Russell Investments Group Ltd. now owns 72,344 shares of the industrial products company’s stock valued at $2,861,000 after buying an additional 1,639 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Gorman-Rupp by 147.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,360 shares of the industrial products company’s stock valued at $726,000 after buying an additional 10,946 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in Gorman-Rupp by 413.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 7,157 shares of the industrial products company’s stock valued at $283,000 after buying an additional 5,762 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Gorman-Rupp Price Performance

Shares of NYSE GRC opened at $39.41 on Friday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 28.55, a PEG ratio of 1.60 and a beta of 0.91. The Gorman-Rupp Company has a one year low of $28.87 and a one year high of $42.24. The company’s fifty day moving average is $38.16 and its two-hundred day moving average is $37.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.44 and a current ratio of 2.45.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Friday, July 26th. The industrial products company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.44 by $0.10. The company 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%. Analysts forecast that The Gorman-Rupp Company will post 1.85 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

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 dividend yield of 1.83%. Gorman-Rupp’s 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.