Ancora Advisors LLC Decreases Stock Position in Gorman-Rupp Company (The) $GRC

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 lessened its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 68.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,505 shares of the industrial products company's stock after selling 47,755 shares during the quarter. Ancora Advisors LLC owned approximately 0.09% of Gorman-Rupp worth $790,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GRC. Price T Rowe Associates Inc. MD increased its position in Gorman-Rupp by 7.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,646 shares of the industrial products company's stock valued at $745,000 after buying an additional 1,301 shares in the last quarter. Northern Trust Corp increased its stake in shares of Gorman-Rupp by 11.6% in the fourth quarter. Northern Trust Corp now owns 223,192 shares of the industrial products company's stock worth $8,463,000 after purchasing an additional 23,158 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Gorman-Rupp by 19.7% during the 4th quarter. Bank of America Corp DE now owns 27,496 shares of the industrial products company's stock valued at $1,043,000 after purchasing an additional 4,522 shares during the period. Balyasny Asset Management L.P. bought a new stake in Gorman-Rupp during the 4th quarter worth approximately $351,000. Finally, Cubist Systematic Strategies LLC increased its stake in Gorman-Rupp by 390.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 7,401 shares of the industrial products company's stock worth $281,000 after acquiring an additional 5,892 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company's stock.

Gorman-Rupp Price Performance

NYSE GRC traded up $1.36 on Thursday, reaching $43.95. 64,693 shares of the company's stock traded hands, compared to its average volume of 59,599. The stock has a market cap of $1.16 billion, a PE ratio of 22.31, a P/E/G ratio of 1.61 and a beta of 1.22. The stock has a 50-day simple moving average of $40.80 and a 200 day simple moving average of $37.81. 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 $43.98.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, topping 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 business had revenue of $179.05 million during the quarter, compared to analysts' expectations of $174.60 million. As a group, research analysts predict that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. Gorman-Rupp's dividend payout ratio is 37.56%.

Gorman-Rupp Company 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.