Alliancebernstein L.P. decreased its position in Gorman-Rupp Co (NYSEMKT:GRC) by 13.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 30,937 shares of the industrial products company’s stock after selling 4,901 shares during the period. Alliancebernstein L.P. owned 0.12% of Gorman-Rupp worth $971,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Parametric Portfolio Associates LLC acquired a new stake in shares of Gorman-Rupp during the first quarter valued at $4,574,000. Wells Fargo & Company MN boosted its stake in shares of Gorman-Rupp by 72.0% in the first quarter. Wells Fargo & Company MN now owns 27,825 shares of the industrial products company’s stock valued at $874,000 after buying an additional 11,643 shares during the period. Teachers Advisors LLC boosted its stake in shares of Gorman-Rupp by 20.8% in the fourth quarter. Teachers Advisors LLC now owns 39,137 shares of the industrial products company’s stock valued at $1,211,000 after buying an additional 6,727 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gorman-Rupp by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 154,654 shares of the industrial products company’s stock valued at $4,856,000 after buying an additional 6,243 shares during the period. Finally, WCM Investment Management CA boosted its stake in shares of Gorman-Rupp by 9.0% in the first quarter. WCM Investment Management CA now owns 26,892 shares of the industrial products company’s stock valued at $844,000 after buying an additional 2,230 shares during the period.
Shares of Gorman-Rupp Co (GRC) opened at 26.99 on Friday. The company’s 50 day moving average is $27.55 and its 200 day moving average is $28.30. The company has a market capitalization of $704.41 million, a price-to-earnings ratio of 28.29 and a beta of 1.13. Gorman-Rupp Co has a one year low of $22.30 and a one year high of $34.45.
Gorman-Rupp (NYSEMKT:GRC) last issued its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.13. Gorman-Rupp had a net margin of 8.02% and a return on equity of 10.14%. The business had revenue of $97.87 million for the quarter, compared to analysts’ expectations of $92.90 million. During the same period last year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts predict that Gorman-Rupp Co will post $1.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Friday, August 11th. Gorman-Rupp’s dividend payout ratio is 45.65%.
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Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Gorman-Rupp from a “hold” rating to a “sell” rating in a report on Friday, April 28th. TheStreet lowered shares of Gorman-Rupp from a “b-” rating to a “c+” rating in a report on Friday, May 12th.
In other news, Director Christopher H. Lake sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $27.23, for a total value of $59,906.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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