The Gorman-Rupp Company (NYSE:GRC) Short Interest Update

The Gorman-Rupp Company (NYSE:GRC) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 128,700 shares, a decrease of 21.5% from the February 13th total of 164,000 shares. Based on an average trading volume of 65,200 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.6% of the company’s shares are short sold.

Hedge Funds Weigh In On Gorman-Rupp

A number of institutional investors have recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in shares of Gorman-Rupp during the fourth quarter valued at $38,000. Point72 Asset Management L.P. purchased a new position in Gorman-Rupp in the third quarter worth about $62,000. Quantbot Technologies LP purchased a new position in Gorman-Rupp in the third quarter worth about $154,000. Aquatic Capital Management LLC boosted its position in Gorman-Rupp by 46.2% in the fourth quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Gorman-Rupp in the third quarter worth about $209,000. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Trading Up 0.0 %

Shares of Gorman-Rupp stock traded up $0.01 during midday trading on Monday, reaching $37.59. 55,620 shares of the company’s stock traded hands, compared to its average volume of 80,298. The stock has a 50 day moving average of $37.88 and a 200-day moving average of $38.83. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The company has a market cap of $986.02 million, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94. Gorman-Rupp has a 12 month low of $30.47 and a 12 month high of $43.79.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same period in the prior year, the company posted $0.34 earnings per share. As a group, equities analysts expect that Gorman-Rupp will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $0.185 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.74 dividend on an annualized basis and a yield of 1.97%. Gorman-Rupp’s dividend payout ratio (DPR) is 48.37%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 25th.

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.