Posted by admin on Jul 27th, 2022
Mutual of America Capital Management LLC cut its holdings in shares of The Gorman-Rupp Company (NYSE:GRC – Get Rating) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,499 shares of the industrial products company’s stock after selling 3,981 shares during the period. Mutual of America Capital Management LLC’s holdings in Gorman-Rupp were worth $3,283,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Bell Investment Advisors Inc acquired a new position in shares of Gorman-Rupp during the fourth quarter worth $29,000. Kepos Capital LP acquired a new position in shares of Gorman-Rupp during the fourth quarter worth $71,000. EverSource Wealth Advisors LLC acquired a new position in shares of Gorman-Rupp during the fourth quarter worth $110,000. Strs Ohio acquired a new position in shares of Gorman-Rupp during the fourth quarter worth $218,000. Finally, ProShare Advisors LLC acquired a new position in shares of Gorman-Rupp in the 4th quarter valued at $222,000. 55.88% of the stock is owned by institutional investors and hedge funds.
NYSE GRC opened at $29.10 on Wednesday. The stock’s fifty day moving average price is $28.51 and its 200 day moving average price is $33.74. The Gorman-Rupp Company has a 1 year low of $26.83 and a 1 year high of $47.12. The company has a market cap of $758.90 million, a price-to-earnings ratio of 25.30 and a beta of 0.63.
Gorman-Rupp (NYSE:GRC – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The industrial products company reported $0.34 EPS for the quarter. Gorman-Rupp had a net margin of 7.65% and a return on equity of 9.97%. The company had revenue of $102.17 million for the quarter.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 13th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, May 12th. Gorman-Rupp’s payout ratio is 59.13%.
Several equities analysts recently issued reports on the company. StockNews.com raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Monday. TheStreet downgraded Gorman-Rupp from a “b-” rating to a “c+” rating in a research report on Wednesday, June 8th.
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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