Gorman-Rupp Company (The) $GRC Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding cut its Gorman-Rupp stake by 48.8% in the third quarter, selling 22,162 shares and retaining 23,298 shares valued at approximately $1.74 million. Institutional investors and hedge funds collectively own 59.26% of the company.
• Gorman-Rupp reported quarterly EPS of $0.74, beating analyst expectations of $0.70, although revenue of $186.07 million fell short of the $188.89 million consensus estimate.
• The stock traded at $72.33, while analysts’ overall rating remained “Hold.” The company also maintains a quarterly dividend of $0.19 per share, equivalent to a 1.1% annual yield.

Vontobel Holding Ltd. trimmed its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 48.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,298 shares of the industrial products company's stock after selling 22,162 shares during the period. Vontobel Holding Ltd. owned approximately 0.09% of Gorman-Rupp worth $1,735,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Gorman-Rupp in the second quarter worth $28,000. Integrated Wealth Concepts LLC purchased a new position in shares of Gorman-Rupp during the second quarter worth $36,000. TD Waterhouse Canada Inc. raised its holdings in shares of Gorman-Rupp by 374.0% during the second quarter. TD Waterhouse Canada Inc. now owns 493 shares of the industrial products company's stock worth $44,000 after purchasing an additional 389 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Gorman-Rupp by 34.3% during the third quarter. GAMMA Investing LLC now owns 599 shares of the industrial products company's stock worth $45,000 after purchasing an additional 153 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in Gorman-Rupp during the first quarter valued at $53,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gorman-Rupp

In related news, VP D. Patrick Wischmeier sold 5,153 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total transaction of $399,975.86. Following the sale, the vice president directly owned 1,409 shares of the company's stock, valued at approximately $109,366.58. This represents a 78.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 11.60% of the company's stock.

Gorman-Rupp Trading Up 0.6%

Shares of NYSE:GRC opened at $72.33 on Tuesday. The company has a current ratio of 2.81, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62. Gorman-Rupp Company has a 12-month low of $42.31 and a 12-month high of $92.78. The business has a 50 day moving average of $75.51 and a two-hundred day moving average of $76.95. The company has a market capitalization of $1.91 billion, a PE ratio of 30.52, a PEG ratio of 2.07 and a beta of 1.32.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.04. The business had revenue of $186.07 million for 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%. As a group, analysts forecast that Gorman-Rupp Company will post 2.67 EPS for the current year.

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. Gorman-Rupp's dividend payout ratio is 32.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Gorman-Rupp in a report on Wednesday, September 9th. Zacks Research downgraded Gorman-Rupp from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Finally, Wall Street Zen lowered Gorman-Rupp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Gorman-Rupp presently has an average rating of "Hold".

About Gorman-Rupp

The Gorman-Rupp Company NYSE: GRC designs and manufactures pumps and pumping systems for moving water and other liquids. Its products include self-priming centrifugal, standard centrifugal, submersible, rotary gear, diaphragm, trash and high-pressure pumps, along with packaged pumping systems and related equipment.

Gorman-Rupp serves a broad range of markets, including municipal water and wastewater, construction, agriculture, industrial, petroleum and fire protection. Its equipment is used in applications such as water supply, sewage handling, stormwater management, dewatering, irrigation and general fluid transfer.

Founded in 1933 by J.C.

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