Inspire Investing LLC Invests $425,000 in The Gorman-Rupp Company (NYSE:GRC)

Inspire Investing LLC purchased a new stake in shares of The Gorman-Rupp Company (NYSE:GRC) during the 3rd quarter, Holdings Channel reports. The fund purchased 10,900 shares of the industrial products company’s stock, valued at approximately $425,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toth Financial Advisory Corp acquired a new stake in Gorman-Rupp in the first quarter valued at approximately $624,000. BNP Paribas Financial Markets lifted its stake in shares of 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 acquiring an additional 9,278 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Gorman-Rupp by 2.3% during 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 acquiring an additional 1,639 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Gorman-Rupp by 147.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,360 shares of the industrial products company’s stock worth $726,000 after acquiring an additional 10,946 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings 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 worth $283,000 after purchasing an additional 5,762 shares in the last quarter. 59.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Gorman-Rupp Trading Down 0.8 %

GRC opened at $38.53 on Wednesday. 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 Gorman-Rupp Company has a fifty-two week low of $28.87 and a fifty-two week high of $42.24. The company’s 50 day moving average price is $38.07 and its two-hundred day moving average price is $36.98. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 1.60 and a beta of 0.91.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.54 earnings per share 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 analysts’ expectations of $174.44 million. Gorman-Rupp had a net margin of 5.20% and a return on equity of 11.39%. As a group, research analysts predict that The Gorman-Rupp Company will post 1.85 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.87%. Gorman-Rupp’s dividend payout ratio (DPR) is 52.17%.

About Gorman-Rupp

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.