Teacher Retirement System of Texas Lowers Holdings in Gorman-Rupp Company (The) (NYSE:GRC)

Teacher Retirement System of Texas lowered its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 40.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,919 shares of the industrial products company's stock after selling 9,400 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.05% of Gorman-Rupp worth $489,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Gorman-Rupp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,205,019 shares of the industrial products company's stock valued at $83,614,000 after purchasing an additional 20,407 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Gorman-Rupp by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,345,454 shares of the industrial products company's stock valued at $51,020,000 after purchasing an additional 3,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Gorman-Rupp by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 703,077 shares of the industrial products company's stock valued at $26,661,000 after purchasing an additional 38,191 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Gorman-Rupp by 11.6% in the 4th quarter. Northern Trust Corp now owns 223,192 shares of the industrial products company's stock valued at $8,463,000 after purchasing an additional 23,158 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Gorman-Rupp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,153 shares of the industrial products company's stock valued at $6,604,000 after purchasing an additional 1,266 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th.

Gorman-Rupp Stock Down 0.7%

Shares of NYSE:GRC traded down $0.25 on Friday, reaching $37.21. The company had a trading volume of 56,233 shares, compared to its average volume of 69,396. Gorman-Rupp Company has a 52-week low of $30.87 and a 52-week high of $43.79. The firm's 50 day simple moving average is $37.16 and its 200-day simple moving average is $36.77. The firm has a market capitalization of $978.40 million, a PE ratio of 22.02, a PEG ratio of 1.44 and a beta of 1.17. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $163.95 million for the quarter, compared to the consensus estimate of $164.84 million. Gorman-Rupp had a return on equity of 13.57% and a net margin of 6.68%. As a group, analysts expect that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a $0.185 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.99%. Gorman-Rupp's payout ratio is 43.79%.

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.