12,500 Shares in Gorman-Rupp Company (The) $GRC Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. acquired 12,500 shares of Gorman-Rupp Company, investing approximately $439,000 in the first quarter, highlighting increased institutional interest in the company.
• Gorman-Rupp reported earnings of $0.60 per share for the last quarter, exceeding estimates and achieving revenue of $179.05 million, indicating strong financial performance.
• The company recently declared a quarterly dividend of $0.185, with an annual yield of 1.7%, reflecting its commitment to returning value to shareholders.

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,500 shares of the industrial products company's stock, valued at approximately $439,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GRC. Fifth Third Bancorp purchased a new stake in Gorman-Rupp in the 1st quarter worth approximately $45,000. Central Pacific Bank Trust Division purchased a new stake in Gorman-Rupp in the 1st quarter worth approximately $53,000. Quantbot Technologies LP increased its holdings in Gorman-Rupp by 42.3% in the 1st quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company's stock worth $106,000 after acquiring an additional 896 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Gorman-Rupp during the 1st quarter valued at approximately $203,000. Finally, Swisher Financial Concepts Inc. purchased a new stake in Gorman-Rupp during the 1st quarter valued at approximately $205,000. Hedge funds and other institutional investors own 59.26% of the company's stock.

Gorman-Rupp Price Performance

GRC traded up $0.93 during trading on Thursday, reaching $44.50. 70,406 shares of the company traded hands, compared to its average volume of 59,135. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.39. Gorman-Rupp Company has a 12-month low of $30.87 and a 12-month high of $44.59. The firm has a fifty day simple moving average of $41.32 and a 200 day simple moving average of $37.99. The company has a market cap of $1.17 billion, a P/E ratio of 22.59, a PEG ratio of 1.64 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 (EPS) 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 analyst estimates of $174.60 million. On average, equities analysts forecast that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.185 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.7%. Gorman-Rupp's dividend payout ratio (DPR) 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.