Gorman-Rupp Company (The) $GRC Holdings Cut by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC significantly reduced its holdings in Gorman-Rupp Company by 68.0%, now owning 22,505 shares valued at approximately $790,000.
• Gorman-Rupp reported a quarterly earnings per share (EPS) of $0.60, exceeding analysts' expectations of $0.55, with revenues of $179.05 million for the quarter.
• The company declared a quarterly dividend of $0.185 per share, resulting in an annualized dividend of $0.74 with a yield of 1.7%.

Ancora Advisors LLC lowered its holdings in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 68.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,505 shares of the industrial products company's stock after selling 47,755 shares during the period. Ancora Advisors LLC owned about 0.09% of Gorman-Rupp worth $790,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GRC. Fifth Third Bancorp bought a new position in Gorman-Rupp in the first quarter worth about $45,000. Central Pacific Bank Trust Division acquired a new stake in shares of Gorman-Rupp in the first quarter valued at approximately $53,000. Quantbot Technologies LP increased its stake in shares of Gorman-Rupp by 42.3% in the first quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company's stock valued at $106,000 after purchasing an additional 896 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Gorman-Rupp in the first quarter valued at approximately $203,000. Finally, Swisher Financial Concepts Inc. acquired a new stake in shares of Gorman-Rupp in the first quarter valued at approximately $205,000. Institutional investors own 59.26% of the company's stock.

Gorman-Rupp Price Performance

Shares of NYSE:GRC opened at $43.19 on Friday. The firm's 50 day moving average is $40.40 and its two-hundred day moving average is $37.71. Gorman-Rupp Company has a 52 week low of $30.87 and a 52 week high of $43.79. The firm has a market capitalization of $1.14 billion, a P/E ratio of 21.92, a PEG ratio of 1.63 and a beta of 1.22. The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80.

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

Gorman-Rupp Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.7%. Gorman-Rupp's dividend payout ratio (DPR) is presently 37.56%.

About Gorman-Rupp

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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