Posted by admin on Jul 14th, 2022
Assenagon Asset Management S.A. bought a new stake in shares of The Gorman-Rupp Company (NYSE:GRC – Get Rating) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 63,302 shares of the industrial products company’s stock, valued at approximately $2,271,000.
Other large investors also recently bought and sold shares of the company. Bell Investment Advisors Inc bought a new position in shares of Gorman-Rupp during the fourth quarter valued at approximately $29,000. Kepos Capital LP bought a new position in shares of Gorman-Rupp during the fourth quarter valued at approximately $71,000. EverSource Wealth Advisors LLC bought a new position in shares of Gorman-Rupp during the fourth quarter valued at approximately $110,000. Strs Ohio bought a new position in shares of Gorman-Rupp during the fourth quarter valued at approximately $218,000. Finally, ProShare Advisors LLC bought a new position in Gorman-Rupp in the 4th quarter worth approximately $222,000. 55.88% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on GRC shares. TheStreet lowered Gorman-Rupp from a “b-” rating to a “c+” rating in a report on Wednesday, June 8th. StockNews.com lowered Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 18th.
GRC opened at $27.33 on Thursday. The company has a market capitalization of $712.74 million, a price-to-earnings ratio of 23.77 and a beta of 0.63. The Gorman-Rupp Company has a 1-year low of $27.00 and a 1-year high of $47.12. The business has a 50 day moving average price of $28.90 and a two-hundred day moving average price of $34.81.
Gorman-Rupp (NYSE:GRC – Get Rating) last released its earnings results on Wednesday, April 27th. The industrial products company reported $0.34 earnings per share for the quarter. The firm had revenue of $102.17 million during the quarter. Gorman-Rupp had a return on equity of 9.97% and a net margin of 7.65%.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 13th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.49%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 59.13%.
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.
Want to see what other hedge funds are holding GRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Gorman-Rupp Company (NYSE:GRC – Get Rating).
Receive News & Ratings for Gorman-Rupp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gorman-Rupp and related companies with MarketBeat.com's FREE daily email newsletter.
NSK (OTCMKTS:NPSKY) Stock Passes Below 50-Day Moving Average of $11.15
Assenagon Asset Management S.A. Cuts Stock Holdings in Archrock, Inc. (NYSE:AROC)