Cetera Investment Advisers Buys Shares of 15,819 Gorman-Rupp Company (The) $GRC

Key Points

• Cetera Investment Advisers initiated a 15,819-share position in Gorman-Rupp worth approximately $983,000, representing about 0.06% of the company. Institutional investors collectively own 59.26% of Gorman-Rupp.
• Gorman-Rupp reported quarterly earnings of $0.74 per share, exceeding estimates of $0.70, while revenue of $186.07 million fell short of the $188.89 million consensus forecast.
• The company declared a quarterly dividend of $0.19 per share, or $0.76 annually, yielding approximately 0.9%. Shares opened at $80.92, and analysts maintain a consensus “Buy” rating.

Cetera Investment Advisers purchased a new position in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,819 shares of the industrial products company's stock, valued at approximately $983,000. Cetera Investment Advisers owned approximately 0.06% of Gorman-Rupp at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Huntington National Bank purchased a new position in shares of Gorman-Rupp during the 4th quarter valued at $31,000. NewEdge Advisors LLC raised its position in shares of Gorman-Rupp by 130.7% in the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company's stock worth $32,000 after buying an additional 379 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Gorman-Rupp by 125.0% during the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company's stock valued at $62,000 after buying an additional 939 shares during the period. Tower Research Capital LLC TRC grew its position in Gorman-Rupp by 135.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company's stock worth $75,000 after buying an additional 1,180 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Gorman-Rupp in the 1st quarter worth about $89,000. 59.26% of the stock is currently owned by institutional investors.

Gorman-Rupp Stock Performance

NYSE GRC opened at $80.92 on Friday. The company has a 50-day simple moving average of $83.07 and a two-hundred day simple moving average of $72.60. Gorman-Rupp Company has a 12-month low of $41.02 and a 12-month high of $92.78. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 2.30 and a beta of 1.29. The company has a quick ratio of 1.82, a current ratio of 2.81 and a debt-to-equity ratio of 0.62.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.04. The company had revenue of $186.07 million during the quarter, compared to analyst estimates of $188.89 million. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%. On average, equities analysts forecast that Gorman-Rupp Company will post 2.67 EPS for the current year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 14th. Gorman-Rupp's dividend payout ratio is 32.07%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GRC shares. Freedom Capital raised Gorman-Rupp to a "hold" rating in a report on Monday, May 18th. Wall Street Zen lowered Gorman-Rupp from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Zacks Research upgraded shares of Gorman-Rupp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings downgraded shares of Gorman-Rupp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy".

About Gorman-Rupp

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.

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