Grace & White Inc. NY Decreases Position in The Gorman-Rupp Company (NYSE:GRC)

Grace & White Inc. NY lessened its holdings in The Gorman-Rupp Company (NYSE:GRC) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 348,067 shares of the industrial products company’s stock after selling 2,637 shares during the quarter. Gorman-Rupp comprises approximately 2.4% of Grace & White Inc. NY’s investment portfolio, making the stock its 11th largest holding. Grace & White Inc. NY’s holdings in Gorman-Rupp were worth $13,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GRC. nVerses Capital LLC purchased a new position in Gorman-Rupp in the 3rd quarter valued at approximately $31,000. CWM LLC raised its holdings in shares of Gorman-Rupp by 76.8% in the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 400 shares in the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Gorman-Rupp in the 3rd quarter valued at $58,000. Mather Group LLC. raised its holdings in shares of Gorman-Rupp by 517.0% in the 2nd quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,339 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Gorman-Rupp by 63.8% in the 1st quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 797 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

Shares of GRC opened at $38.38 on Tuesday. The Gorman-Rupp Company has a twelve month low of $28.87 and a twelve month high of $42.24. The firm’s fifty day simple moving average is $38.23 and its 200-day simple moving average is $36.99. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.60 and a beta of 0.91. The company has a current ratio of 2.45, a quick ratio of 1.44 and a debt-to-equity ratio of 1.05.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.44 by $0.10. Gorman-Rupp had a net margin of 5.20% and a return on equity of 11.39%. The firm had revenue of $169.51 million for the quarter, compared to analyst estimates of $174.44 million. Equities analysts forecast that The Gorman-Rupp Company will post 1.85 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.88%. Gorman-Rupp’s dividend payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

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.