Gorman-Rupp Company (The) (NYSE:GRC) Stock Holdings Trimmed by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 40.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Gorman-Rupp by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,153 shares of the industrial products company's stock valued at $6,604,000 after buying an additional 1,266 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Gorman-Rupp during the fourth quarter worth $447,000. Raymond James Financial Inc. acquired a new position in Gorman-Rupp during the fourth quarter worth $1,100,000. Intech Investment Management LLC purchased a new stake in shares of Gorman-Rupp in the 4th quarter worth about $344,000. Finally, American Century Companies Inc. boosted its position in shares of Gorman-Rupp by 10.8% in the 4th quarter. American Century Companies Inc. now owns 42,455 shares of the industrial products company's stock worth $1,610,000 after buying an additional 4,155 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company's stock.

Wall Street Analysts Forecast Growth

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 Trading Down 0.7%

GRC stock traded down $0.25 during midday trading on Friday, reaching $37.21. 55,344 shares of the company's stock traded hands, compared to its average volume of 69,536. The company has a market capitalization of $978.25 million, a P/E ratio of 22.02, a PEG ratio of 1.43 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.42 and a quick ratio of 1.35. Gorman-Rupp Company has a fifty-two week low of $30.87 and a fifty-two week high of $43.79. The business has a 50-day moving average price of $37.16 and a two-hundred day moving average price of $36.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.02. Gorman-Rupp had a return on equity of 13.57% and a net margin of 6.68%. The firm had revenue of $163.95 million during the quarter, compared to analyst estimates of $164.84 million. Equities research analysts forecast that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a $0.185 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.74 annualized dividend and a dividend 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.