Deutsche Bank AG Takes Position in Gorman-Rupp Company (The) $GRC

Key Points

• Deutsche Bank initiated a position in Gorman-Rupp during the second quarter, buying 22,541 shares valued at approximately $2.1 million. Institutional investors and hedge funds collectively own 59.26% of the company.
• Analyst sentiment has moderated, with recent rating downgrades leaving Gorman-Rupp with an overall “Hold” consensus from MarketBeat.
• Gorman-Rupp exceeded quarterly earnings expectations, reporting $0.74 in EPS versus the $0.70 consensus estimate, while declaring a quarterly dividend of $0.19 per share, equivalent to a 1.0% annual yield.

Deutsche Bank AG purchased a new position in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,541 shares of the industrial products company's stock, valued at approximately $2,068,000. Deutsche Bank AG owned approximately 0.09% of Gorman-Rupp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Gorman-Rupp in the 2nd quarter valued at approximately $220,000. Bank of New York Mellon Corp purchased a new stake in Gorman-Rupp during the second quarter worth $16,235,000. State of Wyoming purchased a new stake in Gorman-Rupp during the second quarter worth $130,000. USA Financial Formulas acquired a new stake in Gorman-Rupp in the first quarter valued at $53,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in Gorman-Rupp in the second quarter valued at $279,000. Institutional investors and hedge funds own 59.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Zacks Research cut Gorman-Rupp from a "strong-buy" rating to a "hold" rating in a research report on Monday. Wall Street Zen lowered shares of Gorman-Rupp from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Freedom Capital raised shares of Gorman-Rupp to a "hold" rating in a research note on Monday, May 18th. Finally, Weiss Ratings cut shares of Gorman-Rupp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold".

Gorman-Rupp Stock Performance

Shares of GRC opened at $77.67 on Friday. Gorman-Rupp Company has a 1 year low of $41.85 and a 1 year high of $92.78. The company's 50 day simple moving average is $82.10 and its 200 day simple moving average is $74.09. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.24 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81.

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

Gorman-Rupp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. Gorman-Rupp's payout ratio is currently 32.07%.

Gorman-Rupp Company Profile

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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