Algert Global LLC Makes New Investment in Gorman-Rupp Company (The) $GRC

Key Points

• Algert Global LLC has acquired 7,432 shares of Gorman-Rupp Company, valued at approximately $261,000, as part of their first-quarter investment strategy.
• Gorman-Rupp Company's stock recently reported a quarterly earnings per share of $0.60, surpassing the consensus estimate of $0.55, with revenues of $179.05 million for the quarter.
• The company announced a quarterly dividend of $0.185, set to be paid on September 10th, representing an annualized dividend yield of 1.8%.

Algert Global LLC purchased a new position in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,432 shares of the industrial products company's stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GRC. Fifth Third Bancorp bought a new position in Gorman-Rupp in the 1st quarter worth approximately $45,000. Central Pacific Bank Trust Division bought a new position in shares of Gorman-Rupp during the 1st quarter valued at approximately $53,000. Aquatic Capital Management LLC boosted its position in shares of Gorman-Rupp by 46.2% during the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock valued at $161,000 after acquiring an additional 1,339 shares during the last quarter. Swisher Financial Concepts Inc. bought a new position in shares of Gorman-Rupp during the 1st quarter valued at approximately $205,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Gorman-Rupp during the 1st quarter valued at approximately $221,000. 59.26% of the stock is currently owned by institutional investors.

Gorman-Rupp Stock Down 1.0%

NYSE GRC opened at $42.2260 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.39. The company has a market capitalization of $1.11 billion, a P/E ratio of 21.43, a P/E/G ratio of 1.61 and a beta of 1.21. Gorman-Rupp Company has a one year low of $30.87 and a one year high of $43.79. The stock has a 50 day moving average price of $39.17 and a 200-day moving average price of $37.40.

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

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $0.185 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.8%. Gorman-Rupp's dividend payout ratio (DPR) is presently 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.

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