Renaissance Technologies LLC Sells 32,584 Shares of Gorman-Rupp Company (The) $GRC

Renaissance Technologies LLC lowered its holdings in Gorman-Rupp Company (The) (NYSE:GRC) by 18.9% in the 1st quarter, Holdings Channel reports. The firm owned 140,031 shares of the industrial products company’s stock after selling 32,584 shares during the period. Renaissance Technologies LLC’s holdings in Gorman-Rupp were worth $8,700,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GRC. Huntington National Bank purchased a new stake in shares of Gorman-Rupp during the fourth quarter valued at $31,000. NewEdge Advisors LLC raised its position in Gorman-Rupp by 130.7% in the 4th quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after buying an additional 379 shares during the last quarter. Osaic Holdings Inc. raised its position in Gorman-Rupp by 125.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after buying an additional 939 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Gorman-Rupp by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 1,180 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in Gorman-Rupp during the 1st quarter valued at about $89,000. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Stock Up 0.4%

GRC stock opened at $81.55 on Monday. Gorman-Rupp Company has a fifty-two week low of $39.64 and a fifty-two week high of $92.78. The business’s 50-day moving average is $81.61 and its two-hundred day moving average is $70.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 2.34 and a beta of 1.29.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. The business had revenue of $186.07 million for the quarter, compared to analysts’ expectations of $188.89 million. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%. As a group, analysts forecast that Gorman-Rupp Company will post 2.67 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.9%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 32.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GRC shares. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Zacks Research upgraded shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Gorman-Rupp Company Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.