Balyasny Asset Management L.P. Purchases New Position in The Gorman-Rupp Company (NYSE:GRC)

Balyasny Asset Management L.P. purchased a new stake in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,253 shares of the industrial products company's stock, valued at approximately $351,000.

A number of other hedge funds have also bought and sold shares of the stock. Bailard Inc. grew its holdings in shares of Gorman-Rupp by 2.5% during the fourth quarter. Bailard Inc. now owns 16,395 shares of the industrial products company's stock valued at $622,000 after buying an additional 400 shares during the last quarter. Rhumbline Advisers lifted its position in Gorman-Rupp by 1.8% during the 4th quarter. Rhumbline Advisers now owns 31,320 shares of the industrial products company's stock worth $1,188,000 after acquiring an additional 548 shares during the period. Inceptionr LLC grew its stake in Gorman-Rupp by 9.5% during the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock valued at $265,000 after purchasing an additional 609 shares during the last quarter. Principal Financial Group Inc. grew its stake in Gorman-Rupp by 8.6% during the 4th quarter. Principal Financial Group Inc. now owns 11,117 shares of the industrial products company's stock valued at $422,000 after purchasing an additional 884 shares during the last quarter. Finally, Centricity Wealth Management LLC acquired a new position in shares of Gorman-Rupp in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 59.26% of the company's stock.

Gorman-Rupp Stock Performance

NYSE:GRC traded down $0.52 during mid-day trading on Thursday, hitting $36.81. The company's stock had a trading volume of 3,378 shares, compared to its average volume of 79,622. The business's fifty day moving average is $35.54 and its two-hundred day moving average is $37.94. The stock has a market cap of $967.91 million, a price-to-earnings ratio of 24.07, a PEG ratio of 1.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The Gorman-Rupp Company has a 1 year low of $30.87 and a 1 year high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its earnings results on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. The firm had revenue of $163.95 million for the quarter, compared to the consensus estimate of $164.84 million. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. Analysts anticipate that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.185 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.01%. Gorman-Rupp's payout ratio is 43.79%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th.

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.