Morgan Dempsey Capital Management LLC Has $6 Million Position in Gorman-Rupp Co (GRC)

Morgan Dempsey Capital Management LLC boosted its stake in Gorman-Rupp Co (NYSEMKT:GRC) by 10.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 235,581 shares of the industrial products company’s stock after buying an additional 22,483 shares during the period. Gorman-Rupp makes up approximately 2.2% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 7th largest position. Morgan Dempsey Capital Management LLC owned approximately 0.90% of Gorman-Rupp worth $6,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Gorman-Rupp by 99.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,692,418 shares of the industrial products company’s stock valued at $53,142,000 after buying an additional 843,467 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Gorman-Rupp by 114.2% in the first quarter. Goldman Sachs Group Inc. now owns 455,593 shares of the industrial products company’s stock valued at $14,306,000 after buying an additional 242,926 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in Gorman-Rupp during the first quarter valued at about $4,574,000. Vanguard Group Inc. raised its stake in Gorman-Rupp by 6.9% in the first quarter. Vanguard Group Inc. now owns 1,561,859 shares of the industrial products company’s stock valued at $49,042,000 after buying an additional 100,245 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Gorman-Rupp by 548.1% in the first quarter. Bank of America Corp DE now owns 42,134 shares of the industrial products company’s stock valued at $1,323,000 after buying an additional 35,633 shares during the last quarter.

Gorman-Rupp Co (NYSEMKT:GRC) traded down 0.66% during mid-day trading on Friday, reaching $26.99. The company’s stock had a trading volume of 52,857 shares. The firm has a 50 day moving average price of $27.55 and a 200 day moving average price of $28.30. Gorman-Rupp Co has a 52-week low of $22.30 and a 52-week high of $34.45. The company has a market cap of $704.41 million, a price-to-earnings ratio of 28.29 and a beta of 1.13.

Gorman-Rupp (NYSEMKT:GRC) last announced its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.13. The firm had revenue of $97.87 million for the quarter, compared to the consensus estimate of $92.90 million. Gorman-Rupp had a net margin of 8.02% and a return on equity of 10.14%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. Equities research analysts anticipate that Gorman-Rupp Co will post $1.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.115 per share. The ex-dividend date is Friday, August 11th. This represents a $0.46 annualized dividend and a dividend yield of 1.70%. Gorman-Rupp’s payout ratio is 45.65%.

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Several analysts recently issued reports on the company. Zacks Investment Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Tuesday, August 1st. TheStreet lowered Gorman-Rupp from a “b-” rating to a “c+” rating in a report on Friday, May 12th.

In other news, Director Christopher H. Lake sold 2,200 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $27.23, for a total transaction of $59,906.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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.

Institutional Ownership by Quarter for Gorman-Rupp (NYSEMKT:GRC)

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