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 lowered its holdings in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 69.8% in the 1st quarter, according to the company in its most recent filing with the 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp purchased a new position in shares of Gorman-Rupp in the 1st quarter valued at approximately $45,000. Central Pacific Bank Trust Division purchased a new position in shares of Gorman-Rupp in the 1st quarter valued at approximately $53,000. Quantbot Technologies LP lifted 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 valued at $106,000 after purchasing an additional 896 shares during the period. Swisher Financial Concepts Inc. purchased a new position in shares of Gorman-Rupp in the 1st quarter valued at approximately $205,000. Finally, Jump Financial LLC purchased a new position in shares of Gorman-Rupp in the 1st quarter valued at approximately $213,000. Hedge funds and other institutional investors own 59.26% of the company's stock.

Gorman-Rupp Stock Up 0.6%

Shares of GRC traded up $0.26 on Monday, reaching $43.22. The stock had a trading volume of 51,754 shares, compared to its average volume of 56,106. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.39. The company has a 50-day simple moving average of $40.99 and a 200-day simple moving average of $37.87. Gorman-Rupp Company has a 12-month low of $30.87 and a 12-month high of $43.98.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its earnings results on Friday, July 25th. The industrial products company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.05. The company had revenue of $179.05 million during the quarter, compared to analysts' expectations of $174.60 million. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%. Sell-side analysts predict 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. Investors of record on Friday, August 15th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. Gorman-Rupp's dividend payout ratio (DPR) 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.