GSA Capital Partners LLP Grows Stake in Gorman-Rupp Co (GRC)

GSA Capital Partners LLP lifted its stake in shares of Gorman-Rupp Co (NYSE:GRC) by 133.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,275 shares of the industrial products company’s stock after purchasing an additional 19,600 shares during the period. GSA Capital Partners LLP owned about 0.13% of Gorman-Rupp worth $1,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of Gorman-Rupp by 0.3% during the second quarter. Rhumbline Advisers now owns 22,640 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 63 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Gorman-Rupp by 1.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,889 shares of the industrial products company’s stock valued at $226,000 after acquiring an additional 94 shares in the last quarter. Manchester Capital Management LLC grew its stake in Gorman-Rupp by 0.3% during the 2nd quarter. Manchester Capital Management LLC now owns 29,904 shares of the industrial products company’s stock valued at $762,000 after acquiring an additional 100 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Gorman-Rupp by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,562 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 187 shares in the last quarter. Finally, Nationwide Fund Advisors grew its stake in Gorman-Rupp by 2.5% during the 2nd quarter. Nationwide Fund Advisors now owns 11,512 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 277 shares in the last quarter. 52.83% of the stock is owned by institutional investors and hedge funds.

Shares of Gorman-Rupp Co (NYSE:GRC) opened at $31.19 on Friday. Gorman-Rupp Co has a one year low of $23.55 and a one year high of $34.45. The stock has a market cap of $809.57, a PE ratio of 26.97 and a beta of 1.30.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.08. Gorman-Rupp had a net margin of 6.25% and a return on equity of 9.72%. The company had revenue of $93.98 million during the quarter, compared to analysts’ expectations of $95.91 million. During the same quarter in the prior year, the company earned $0.27 EPS. Gorman-Rupp’s revenue was up 2.9% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Wednesday, November 15th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, November 14th. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.12. Gorman-Rupp’s dividend payout ratio is currently 55.56%.

Separately, Zacks Investment Research cut shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th.

In related news, Director Christopher H. Lake sold 2,500 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $31.75, for a total transaction of $79,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is currently owned by corporate insiders.

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

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