EverSource Wealth Advisors LLC Sells 1,264 Shares of The Gorman-Rupp Company (NYSE:GRC)

EverSource Wealth Advisors LLC lowered its stake in The Gorman-Rupp Company (NYSE:GRC) by 57.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 932 shares of the industrial products company’s stock after selling 1,264 shares during the period. EverSource Wealth Advisors LLC’s holdings in Gorman-Rupp were worth $35,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRC. Centricity Wealth Management LLC bought a new position in Gorman-Rupp in the 4th quarter valued at about $38,000. Point72 Asset Management L.P. acquired a new stake in shares of Gorman-Rupp during the 3rd quarter worth approximately $62,000. Quantbot Technologies LP bought a new position in Gorman-Rupp in the third quarter valued at approximately $154,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Gorman-Rupp during the third quarter valued at approximately $209,000. Finally, Zacks Investment Management bought a new stake in Gorman-Rupp during the third quarter worth $235,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 25th.

Gorman-Rupp Stock Down 1.5 %

GRC stock opened at $36.97 on Friday. The stock has a market capitalization of $969.70 million, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $37.89 and a 200-day moving average price of $38.78. The Gorman-Rupp Company has a 12 month low of $30.47 and a 12 month high of $43.79.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. During the same quarter last year, the business posted $0.34 earnings per share. As a group, equities research analysts anticipate that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $0.185 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.74 annualized dividend and a yield of 2.00%. Gorman-Rupp’s dividend payout ratio is presently 48.37%.

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.