Two Sigma Investments LP Trims Stock Position in The Gorman-Rupp Company (NYSE:GRC)

Two Sigma Investments LP decreased its holdings in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,294 shares of the industrial products company's stock after selling 8,728 shares during the quarter. Two Sigma Investments LP owned approximately 0.17% of Gorman-Rupp worth $1,680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GRC. Centricity Wealth Management LLC acquired a new stake in Gorman-Rupp during the fourth quarter worth approximately $38,000. Aquatic Capital Management LLC grew its position in shares of Gorman-Rupp by 46.2% in the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock valued at $161,000 after buying an additional 1,339 shares during the last quarter. Inceptionr LLC raised its stake in Gorman-Rupp by 9.5% during the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock worth $265,000 after acquiring an additional 609 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Gorman-Rupp by 880.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,047 shares of the industrial products company's stock valued at $267,000 after acquiring an additional 6,328 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Gorman-Rupp by 362.5% in the fourth quarter. Point72 Asset Management L.P. now owns 7,400 shares of the industrial products company's stock valued at $281,000 after acquiring an additional 5,800 shares during the last quarter. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Stock Performance

NYSE:GRC traded up $0.27 during mid-day trading on Friday, reaching $37.16. 33,700 shares of the stock were exchanged, compared to its average volume of 76,894. The stock has a market capitalization of $977.14 million, a P/E ratio of 24.29, a P/E/G ratio of 1.54 and a beta of 1.19. The Gorman-Rupp Company has a 1 year low of $30.87 and a 1 year high of $43.79. The company has a 50 day simple moving average of $35.65 and a 200-day simple moving average of $37.59. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $163.95 million during the quarter, compared to the consensus estimate of $164.84 million. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. Analysts anticipate that The 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 Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 15th. Gorman-Rupp's payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

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

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.