Vanguard Group Inc. Has $76.59 Million Stock Position in Gorman-Rupp Company (The) $GRC

Key Points

• Vanguard Group Inc. reduced its holdings in Gorman-Rupp Company by 1.0%, now owning approximately 8.30% of the company's stock, valued at $76.59 million.
• Gorman-Rupp recently reported earnings of $0.60 per share for the latest quarter, surpassing analysts' estimates of $0.55, with a revenue of $179.05 million.
• The company announced a quarterly dividend of $0.185 per share, which will be paid on September 10th, reflecting an annualized dividend yield of 1.7%.

Vanguard Group Inc. lowered its position in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 1.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,182,162 shares of the industrial products company's stock after selling 22,857 shares during the quarter. Vanguard Group Inc. owned about 8.30% of Gorman-Rupp worth $76,594,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp purchased a new position in shares of Gorman-Rupp during the 1st quarter valued at approximately $45,000. Central Pacific Bank Trust Division acquired a new stake in Gorman-Rupp in the first quarter worth $53,000. Aquatic Capital Management LLC increased its position in Gorman-Rupp by 46.2% in the fourth quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock worth $161,000 after buying an additional 1,339 shares during the period. Swisher Financial Concepts Inc. acquired a new stake in Gorman-Rupp in the first quarter worth $205,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Gorman-Rupp in the first quarter worth $221,000. Hedge funds and other institutional investors own 59.26% of the company's stock.

Gorman-Rupp Stock Performance

Shares of NYSE:GRC traded down $0.47 on Thursday, hitting $42.59. The company's stock had a trading volume of 10,509 shares, compared to its average volume of 65,364. The stock's 50-day moving average is $39.49 and its two-hundred day moving average is $37.48. Gorman-Rupp Company has a 12 month low of $30.87 and a 12 month high of $43.79. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.39.

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 for the quarter, beating the consensus estimate of $0.55 by $0.05. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%.The business had revenue of $179.05 million during the quarter, compared to analysts' expectations of $174.60 million. On average, equities research analysts forecast that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.74 annualized dividend and a yield of 1.7%. Gorman-Rupp's dividend payout ratio (DPR) is currently 37.56%.

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.