Jump Financial LLC Buys New Shares in Gorman-Rupp Company (The) $GRC

Key Points

• Jump Financial LLC acquired 6,061 shares of Gorman-Rupp Company in Q1, representing an investment of approximately $213,000.
• Gorman-Rupp reported earnings of $0.60 per share in its latest quarter, surpassing expectations, with projected earnings of $1.98 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.185 per share, with a yield of 1.7%, to be paid on September 10th to shareholders on record by August 15th.

Jump Financial LLC bought a new stake in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,061 shares of the industrial products company's stock, valued at approximately $213,000.

A number of other hedge funds have also recently added to or reduced their stakes in GRC. Price T Rowe Associates Inc. MD boosted its position in Gorman-Rupp by 7.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,646 shares of the industrial products company's stock valued at $745,000 after buying an additional 1,301 shares in the last quarter. Northern Trust Corp boosted its position in Gorman-Rupp by 11.6% in the fourth quarter. Northern Trust Corp now owns 223,192 shares of the industrial products company's stock valued at $8,463,000 after buying an additional 23,158 shares in the last quarter. Bank of America Corp DE boosted its position in Gorman-Rupp by 19.7% in the fourth quarter. Bank of America Corp DE now owns 27,496 shares of the industrial products company's stock valued at $1,043,000 after buying an additional 4,522 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Gorman-Rupp in the fourth quarter valued at approximately $351,000. Finally, Cubist Systematic Strategies LLC boosted its position in Gorman-Rupp by 390.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 7,401 shares of the industrial products company's stock valued at $281,000 after buying an additional 5,892 shares in the last quarter. Institutional investors and hedge funds own 59.26% of the company's stock.

Gorman-Rupp Price Performance

Gorman-Rupp stock traded up $0.54 during mid-day trading on Wednesday, reaching $42.61. The company had a trading volume of 53,183 shares, compared to its average volume of 60,341. Gorman-Rupp Company has a fifty-two week low of $30.87 and a fifty-two week high of $43.79. The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The company has a market cap of $1.12 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.59 and a beta of 1.22. The business has a fifty day simple moving average of $40.69 and a 200 day simple moving average of $37.77.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.05. The firm had revenue of $179.05 million for the quarter, compared to analyst estimates of $174.60 million. Gorman-Rupp had a net margin of 7.69% and a return on equity of 13.63%. On average, equities research analysts predict that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, August 15th. Gorman-Rupp's payout ratio is 37.56%.

Gorman-Rupp Profile

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.