Public Employees Retirement Association of Colorado Sells 2,958 Shares of The Gorman-Rupp Company (NYSE:GRC)

Public Employees Retirement Association of Colorado cut its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 33.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,757 shares of the industrial products company’s stock after selling 2,958 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Gorman-Rupp were worth $211,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CWM LLC grew its holdings in shares of Gorman-Rupp by 76.8% during the second quarter. CWM LLC now owns 921 shares of the industrial products company’s stock worth $34,000 after buying an additional 400 shares in the last quarter. Mather Group LLC. grew its holdings 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 acquiring an additional 1,339 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of 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 acquiring an additional 797 shares during the period. New York State Teachers Retirement System bought a new position in shares of Gorman-Rupp in the 1st quarter valued at about $82,000. Finally, SG Americas Securities LLC bought a new position in shares of Gorman-Rupp in the 2nd quarter valued at about $122,000. 59.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Gorman-Rupp Trading Up 0.9 %

GRC stock opened at $38.61 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 fifty day moving average price of $38.39 and a two-hundred day moving average price of $36.96. The Gorman-Rupp Company has a one year low of $28.87 and a one year high of $42.24. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92.

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

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $0.18 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.86%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 52.17%.

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.