Gorman-Rupp Company (The) $GRC Shares Acquired by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. increased its holdings in Gorman-Rupp Company by 6.1%, acquiring an additional 31,790 shares during the first quarter, bringing their total ownership to 554,728 shares valued at approximately $19.47 million.
• The company recently announced a quarterly dividend of $0.185 per share, which will be distributed on September 10th, reflecting a 1.7% dividend yield.
• Gorman-Rupp reported earnings of $0.60 per share for the last quarter, exceeding analyst expectations, and generated a revenue of $179.05 million, surpassing consensus estimates.

Gamco Investors INC. ET AL lifted its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 554,728 shares of the industrial products company's stock after buying an additional 31,790 shares during the period. Gamco Investors INC. ET AL owned 2.11% of Gorman-Rupp worth $19,471,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Martingale Asset Management L P grew its position in shares of Gorman-Rupp by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 30,120 shares of the industrial products company's stock valued at $1,057,000 after buying an additional 400 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Gorman-Rupp by 42.3% during the 1st quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company's stock valued at $106,000 after buying an additional 896 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Gorman-Rupp by 8.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,329 shares of the industrial products company's stock valued at $468,000 after buying an additional 1,093 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Gorman-Rupp by 6.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 21,035 shares of the industrial products company's stock valued at $738,000 after buying an additional 1,240 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of Gorman-Rupp during the 1st quarter valued at about $45,000. Institutional investors own 59.26% of the company's stock.

Gorman-Rupp Stock Performance

Shares of NYSE:GRC traded down $0.09 during trading on Monday, reaching $42.66. 64,101 shares of the company's stock traded hands, compared to its average volume of 69,121. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.39. Gorman-Rupp Company has a 12 month low of $30.87 and a 12 month high of $43.79. The company has a 50 day moving average of $39.79 and a 200-day moving average of $37.55. The stock has a market capitalization of $1.12 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly earnings data 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. Gorman-Rupp had a net margin of 7.69% and a return on equity of 13.63%. The business had revenue of $179.05 million during the quarter, compared to the consensus estimate of $174.60 million. On average, equities analysts expect that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

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