SG Americas Securities LLC Purchases Shares of 3,332 The Gorman-Rupp Company (NYSE:GRC)

SG Americas Securities LLC purchased a new stake in shares of The Gorman-Rupp Company (NYSE:GRC) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,332 shares of the industrial products company’s stock, valued at approximately $122,000.

Several other institutional investors have also recently made changes to their positions in the company. CWM LLC raised its stake in 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 purchasing an additional 400 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Gorman-Rupp by 8.0% during the 4th quarter. New York State Common Retirement Fund now owns 8,998 shares of the industrial products company’s stock valued at $320,000 after buying an additional 664 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Gorman-Rupp by 63.8% during the 1st quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 797 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Gorman-Rupp by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock worth $11,244,000 after acquiring an additional 944 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Gorman-Rupp by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,645 shares of the industrial products company’s stock valued at $659,000 after acquiring an additional 980 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Up 0.1 %

Shares of NYSE GRC opened at $39.37 on Tuesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 28.53, a PEG ratio of 1.67 and a beta of 0.94. The Gorman-Rupp Company has a one year low of $28.87 and a one year high of $42.24. The firm’s 50 day simple moving average is $38.31 and its two-hundred day simple moving average is $36.80. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.45 and a quick ratio of 1.33.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, July 26th. The industrial products company reported $0.54 EPS for the quarter, beating 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%. As a group, analysts expect that The Gorman-Rupp Company will post 1.85 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, August 15th. Gorman-Rupp’s dividend payout ratio (DPR) is presently 52.17%.

Analysts Set New Price Targets

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

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.