California State Teachers Retirement System lowered its position in Gorman-Rupp Co. (NYSEMKT:GRC) by 8.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,951 shares of the company’s stock after selling 3,393 shares during the period. California State Teachers Retirement System owned 0.14% of Gorman-Rupp worth $1,013,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of GRC. State Street Corp raised its position in Gorman-Rupp by 2.9% in the first quarter. State Street Corp now owns 331,457 shares of the company’s stock worth $8,594,000 after buying an additional 9,258 shares during the period. Geode Capital Management LLC raised its position in Gorman-Rupp by 1.4% in the first quarter. Geode Capital Management LLC now owns 123,088 shares of the company’s stock worth $3,191,000 after buying an additional 1,644 shares during the period. Bank of New York Mellon Corp raised its position in Gorman-Rupp by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 119,886 shares of the company’s stock worth $3,286,000 after buying an additional 6,384 shares during the period. M&T Bank Corp raised its position in Gorman-Rupp by 0.7% in the first quarter. M&T Bank Corp now owns 107,000 shares of the company’s stock worth $2,775,000 after buying an additional 750 shares during the period. Finally, Mondrian Investment Partners LTD raised its position in Gorman-Rupp by 7,787.1% in the first quarter. Mondrian Investment Partners LTD now owns 84,234 shares of the company’s stock worth $2,184,000 after buying an additional 83,166 shares during the period.
Gorman-Rupp Co. (NYSEMKT:GRC) traded up 0.63% on Tuesday, hitting $25.73. 18,783 shares of the company’s stock traded hands. The stock has a market cap of $671.32 million, a P/E ratio of 27.85 and a beta of 1.13. Gorman-Rupp Co. has a 12 month low of $21.09 and a 12 month high of $32.60. The stock has a 50 day moving average price of $26.71 and a 200-day moving average price of $27.32.
Gorman-Rupp (NYSEMKT:GRC) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The company had revenue of $96.30 million for the quarter, compared to the consensus estimate of $97.70 million. The company’s revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Equities analysts predict that Gorman-Rupp Co. will post $0.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.42 dividend on an annualized basis and a dividend yield of Infinity. Gorman-Rupp’s dividend payout ratio (DPR) is presently 45.65%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a research note on Monday, August 1st. TheStreet downgraded shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Sidoti assumed coverage on shares of Gorman-Rupp in a research note on Tuesday, September 20th. They issued a “neutral” rating and a $30.00 target price on the stock. Seven analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.90.
In other Gorman-Rupp news, Director Kenneth R. Reynolds purchased 2,500 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was acquired at an average cost of $27.00 per share, for a total transaction of $67,500.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director W Wayne Walston sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $27.31, for a total value of $54,620.00. The disclosure for this sale can be found here.
Gorman-Rupp Company Profile
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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