Trexquant Investment LP Sells 14,798 Shares of Gorman-Rupp Company (The) $GRC

Key Points

• Trexquant Investment LP reduced its holdings in Gorman-Rupp Company by 69.8%, selling 14,798 shares and now owns 6,399 shares valued at approximately $225,000.
• The company reported a profit of $0.60 per share for the last quarter, beating estimates, and generated revenue of $179.05 million.
• Gorman-Rupp announced a quarterly dividend of $0.185, resulting in an annualized dividend yield of 1.8%, with a dividend payout ratio of 37.56%.

Trexquant Investment LP decreased its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 69.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,399 shares of the industrial products company's stock after selling 14,798 shares during the quarter. Trexquant Investment LP's holdings in Gorman-Rupp were worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Gorman-Rupp by 8.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,329 shares of the industrial products company's stock valued at $468,000 after purchasing an additional 1,093 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Gorman-Rupp during the 1st quarter valued at $45,000. GAMMA Investing LLC grew its position in shares of Gorman-Rupp by 4,451.0% during the 1st quarter. GAMMA Investing LLC now owns 6,599 shares of the industrial products company's stock valued at $232,000 after purchasing an additional 6,454 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Gorman-Rupp during the 1st quarter valued at $213,000. Finally, Aurora Private Wealth Inc. purchased a new position in Gorman-Rupp in the first quarter worth $1,262,000. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Gorman-Rupp Price Performance

NYSE:GRC traded up $0.52 during midday trading on Monday, hitting $43.48. The company had a trading volume of 3,065 shares, compared to its average volume of 64,383. Gorman-Rupp Company has a 52-week low of $30.87 and a 52-week high of $43.98. The stock's fifty day moving average price is $40.88 and its 200-day moving average price is $37.83. The company has a market capitalization of $1.14 billion, a PE ratio of 22.07, a P/E/G ratio of 1.62 and a beta of 1.22. The company has a quick ratio of 1.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.80.

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 net margin of 7.69% and a return on equity of 13.63%. The company had revenue of $179.05 million during the quarter, compared to analyst estimates of $174.60 million. As a group, research analysts expect that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.185 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.74 annualized dividend and a yield of 1.7%. Gorman-Rupp's payout ratio is currently 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.