PDT Partners LLC Lowers Stock Position 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 lessened its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 48.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 SEC filing.

A number of other large investors have also recently made changes to their positions in GRC. Pinnacle Wealth Planning Services Inc. lifted its position in Gorman-Rupp by 27.3% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 20,638 shares of the industrial products company's stock valued at $724,000 after purchasing an additional 4,422 shares during the period. Gamco Investors INC. ET AL raised its stake in Gorman-Rupp by 6.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 554,728 shares of the industrial products company's stock valued at $19,471,000 after buying an additional 31,790 shares during the last quarter. Jump Financial LLC purchased a new stake in Gorman-Rupp during the 1st quarter valued at $213,000. Martingale Asset Management L P lifted its holdings in shares of Gorman-Rupp by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 30,120 shares of the industrial products company's stock valued at $1,057,000 after buying an additional 400 shares during the period. Finally, Quantbot Technologies LP boosted its stake in shares of 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 buying an additional 896 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors.

Gorman-Rupp Stock Performance

Shares of GRC traded up $1.36 during trading hours on Thursday, hitting $43.95. The stock had a trading volume of 64,693 shares, compared to its average volume of 59,599. The firm has a market capitalization of $1.16 billion, a PE ratio of 22.31, a PEG ratio of 1.61 and a beta of 1.22. 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. The stock has a fifty day moving average price of $40.80 and a 200 day moving average price of $37.81.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $174.60 million. Analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The business 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.