PDT Partners LLC Has $250,000 Stake in Gorman-Rupp Company (The) $GRC

Key Points

• PDT Partners LLC has reduced its stake in Gorman-Rupp Company by 48.1%, bringing its total holdings to 7,118 shares valued at $250,000.
• In the fourth quarter, several institutional investors increased their stakes in Gorman-Rupp, including Bank of America Corp DE with a 19.7% increase, now holding shares worth over $1 million.
• Gorman-Rupp reported earnings of $0.60 per share for the last quarter, surpassing expectations and achieving a net margin of 7.69%.

PDT Partners LLC reduced its holdings in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 48.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,118 shares of the industrial products company's stock after selling 6,607 shares during the quarter. PDT Partners LLC's holdings in Gorman-Rupp were worth $250,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Gorman-Rupp by 7.1% during 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 purchasing an additional 1,301 shares during the period. Northern Trust Corp boosted its position 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 valued at $8,463,000 after acquiring an additional 23,158 shares during the period. Bank of America Corp DE grew its stake in shares of Gorman-Rupp by 19.7% in the fourth quarter. Bank of America Corp DE now owns 27,496 shares of the industrial products company's stock worth $1,043,000 after acquiring an additional 4,522 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Gorman-Rupp during the fourth quarter worth $351,000. Finally, Cubist Systematic Strategies LLC raised its stake in Gorman-Rupp by 390.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 7,401 shares of the industrial products company's stock valued at $281,000 after purchasing an additional 5,892 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company's stock.

Gorman-Rupp Stock Performance

NYSE GRC opened at $43.19 on Friday. The company's fifty 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 company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.39. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.63 and a beta of 1.22.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its 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 business had revenue of $179.05 million during the quarter, compared to analysts' expectations of $174.60 million. Equities research analysts forecast that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. Gorman-Rupp's dividend payout ratio (DPR) is presently 37.56%.

Gorman-Rupp 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.

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