Posted by admin on Jul 19th, 2022
Strs Ohio boosted its position in shares of The Gorman-Rupp Company (NYSE:GRC – Get Rating) by 73.5% in the first quarter, Holdings Channel reports. The fund owned 8,500 shares of the industrial products company’s stock after acquiring an additional 3,600 shares during the period. Strs Ohio’s holdings in Gorman-Rupp were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of GRC. Bell Investment Advisors Inc acquired a new position in Gorman-Rupp during the 4th quarter worth $29,000. Kepos Capital LP acquired a new position in Gorman-Rupp during the 4th quarter worth $71,000. EverSource Wealth Advisors LLC acquired a new position in Gorman-Rupp during the 4th quarter worth $110,000. ProShare Advisors LLC acquired a new position in Gorman-Rupp during the 4th quarter worth $222,000. Finally, Phoenix Holdings Ltd. acquired a new position in Gorman-Rupp during the 4th quarter worth $223,000. Institutional investors and hedge funds own 55.88% of the company’s stock.
Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 18th. TheStreet downgraded shares of Gorman-Rupp from a “b-” rating to a “c+” rating in a report on Wednesday, June 8th.
NYSE:GRC opened at $27.32 on Tuesday. The firm’s 50-day moving average is $28.75 and its 200-day moving average is $34.43. The Gorman-Rupp Company has a 52-week low of $26.83 and a 52-week high of $47.12. The company has a market cap of $712.48 million, a price-to-earnings ratio of 23.72 and a beta of 0.63.
Gorman-Rupp (NYSE:GRC – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter. The company had revenue of $102.17 million for the quarter. Gorman-Rupp had a net margin of 7.65% and a return on equity of 9.97%.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 13th were paid a $0.17 dividend. The ex-dividend date was Thursday, May 12th. This represents a $0.68 dividend on an annualized basis and a yield of 2.49%. Gorman-Rupp’s payout ratio is currently 59.13%.
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.
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