Posted by admin on Aug 16th, 2022
Commonwealth Equity Services LLC trimmed its stake in shares of The Gorman-Rupp Company (NYSE:GRC – Get Rating) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,718 shares of the industrial products company’s stock after selling 648 shares during the period. Commonwealth Equity Services LLC owned about 0.10% of Gorman-Rupp worth $958,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GRC. Bell Investment Advisors Inc acquired a new stake in Gorman-Rupp during the fourth quarter worth about $29,000. Kepos Capital LP acquired a new stake in Gorman-Rupp during the fourth quarter worth about $71,000. EverSource Wealth Advisors LLC acquired a new stake in Gorman-Rupp during the fourth quarter worth about $110,000. ProShare Advisors LLC acquired a new stake in Gorman-Rupp during the fourth quarter worth about $222,000. Finally, Phoenix Holdings Ltd. purchased a new position in Gorman-Rupp during the fourth quarter worth approximately $223,000. 55.88% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on GRC. TheStreet downgraded Gorman-Rupp from a “b-” rating to a “c+” rating in a research report on Wednesday, June 8th. StockNews.com downgraded Gorman-Rupp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th.
NYSE GRC opened at $28.15 on Tuesday. The company has a market cap of $734.57 million, a PE ratio of 33.51 and a beta of 0.64. The stock’s 50 day simple moving average is $28.40 and its 200-day simple moving average is $32.51. The Gorman-Rupp Company has a 1-year low of $26.83 and a 1-year high of $47.12. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.42 and a quick ratio of 1.33.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be given a $0.17 dividend. The ex-dividend date is Friday, August 12th. This represents a $0.68 annualized dividend and a dividend yield of 2.42%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 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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