Gorman-Rupp Company (The) (NYSE:GRC) Short Interest Update

Key Points

• Gorman-Rupp Company saw a significant increase in short interest of 30.7% in August, totaling 150,100 shares, which equates to 0.7% of its shares being short sold.
• Institutional investors have shown strong interest, with firms like Osaic Holdings Inc. and Tower Research Capital LLC increasing their stakes considerably in recent quarters.
• The company reported earnings of $0.60 per share for the last quarter, exceeding analysts' expectations, and declared a quarterly dividend of $0.185 per share with a yield of 1.7%.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 150,100 shares, agrowthof30.7% from the July 31st total of 114,800 shares. Currently,0.7% of the company's shares are short sold. Based on an average trading volume of 61,700 shares, the short-interest ratio is currently 2.4 days. Based on an average trading volume of 61,700 shares, the short-interest ratio is currently 2.4 days. Currently,0.7% of the company's shares are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRC. Fifth Third Bancorp purchased a new stake in Gorman-Rupp in the 1st quarter valued at $45,000. Central Pacific Bank Trust Division acquired a new position in shares of Gorman-Rupp during the 1st quarter worth $53,000. Osaic Holdings Inc. grew its stake in shares of Gorman-Rupp by 125.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company's stock worth $62,000 after purchasing an additional 939 shares during the period. Tower Research Capital LLC TRC grew its stake in Gorman-Rupp by 135.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company's stock valued at $75,000 after acquiring an additional 1,180 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in 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 acquiring an additional 896 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company's stock.

Gorman-Rupp Price Performance

Gorman-Rupp stock opened at $42.82 on Tuesday. The company's 50 day simple moving average is $40.52 and its 200-day simple moving average is $37.71. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. Gorman-Rupp has a 1 year low of $30.87 and a 1 year high of $43.79. 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 released its quarterly earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.05. The business had revenue of $179.05 million for the quarter, compared to the consensus estimate of $174.60 million. Gorman-Rupp had a net margin of 7.69% and a return on equity of 13.63%. As a group, equities research analysts expect that Gorman-Rupp will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.