Nuveen LLC Buys New Shares in Gorman-Rupp Company (The) $GRC

Key Points

• Nuveen LLC has acquired a new position in Gorman-Rupp Company, purchasing 98,258 shares valued at approximately $3,449,000, representing about 0.37% of the company.
• The company recently reported $0.60 earnings per share for the quarter, exceeding analysts' expectations of $0.55 and indicating a solid revenue of $179.05 million.
• Gorman-Rupp announced a quarterly dividend of $0.185 per share, equating to an annualized dividend of $0.74 and a yield of 1.7%, with a payout ratio of 37.56%.

Nuveen LLC bought a new stake in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 98,258 shares of the industrial products company's stock, valued at approximately $3,449,000. Nuveen LLC owned about 0.37% of Gorman-Rupp as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp bought a new position in shares of Gorman-Rupp during the first quarter valued at about $45,000. Central Pacific Bank Trust Division purchased a new stake in Gorman-Rupp in the first quarter worth about $53,000. Aquatic Capital Management LLC lifted its holdings in shares of Gorman-Rupp by 46.2% during the fourth quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock valued at $161,000 after purchasing an additional 1,339 shares during the last quarter. Swisher Financial Concepts Inc. purchased a new position in shares of Gorman-Rupp during the first quarter valued at approximately $205,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Gorman-Rupp during the first quarter valued at approximately $221,000. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Stock Down 0.2%

Shares of GRC traded down $0.09 on Monday, hitting $42.66. 64,101 shares of the stock traded hands, compared to its average volume of 69,121. The company has a market capitalization of $1.12 billion, a PE ratio of 21.65, a P/E/G ratio of 1.61 and a beta of 1.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.39. The business has a 50 day simple moving average of $39.79 and a 200 day simple moving average of $37.55. Gorman-Rupp Company has a one year low of $30.87 and a one year high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share 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 during the quarter, compared to the consensus estimate of $174.60 million. As a group, equities analysts forecast that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

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 of this dividend is Friday, August 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.7%. Gorman-Rupp's payout ratio 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.