Posted by admin on Aug 17th, 2022

The Gorman-Rupp Company (NYSE:GRC – Get Rating) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 347,200 shares, an increase of 8.5% from the July 15th total of 320,000 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 66,400 shares, the short-interest ratio is presently 5.2 days.

GRC has been the topic of several research reports. StockNews.com cut shares of Gorman-Rupp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. TheStreet cut shares of Gorman-Rupp from a “b-” rating to a “c+” rating in a research report on Wednesday, June 8th.

A number of large investors have recently made changes to their positions in GRC. Strs Ohio raised its position in shares of Gorman-Rupp by 5.9% during the 2nd quarter. Strs Ohio now owns 9,000 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 500 shares during the last quarter. KBC Group NV boosted its holdings in shares of Gorman-Rupp by 0.3% during the 2nd quarter. KBC Group NV now owns 175,186 shares of the industrial products company’s stock worth $4,958,000 after purchasing an additional 507 shares during the last quarter. Bell Investment Advisors Inc purchased a new position in Gorman-Rupp during the fourth quarter worth approximately $29,000. Heartland Advisors Inc. lifted its position in Gorman-Rupp by 0.3% during the first quarter. Heartland Advisors Inc. now owns 236,991 shares of the industrial products company’s stock worth $8,503,000 after buying an additional 731 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Gorman-Rupp during the second quarter worth approximately $28,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

GRC stock opened at $28.19 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 2.42 and a debt-to-equity ratio of 1.27. Gorman-Rupp has a twelve month low of $26.83 and a twelve month high of $47.12. The stock has a market capitalization of $735.62 million, a price-to-earnings ratio of 33.56 and a beta of 0.64. The firm’s fifty day simple moving average is $28.37 and its two-hundred day simple moving average is $32.48.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, August 12th. Gorman-Rupp’s dividend payout ratio (DPR) is 80.95%.

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.

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