The Gorman-Rupp Company (NYSE:GRC) Short Interest Up 24.7% in April

The Gorman-Rupp Company (NYSE:GRC) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 176,200 shares, a growth of 24.7% from the March 31st total of 141,300 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily volume of 76,600 shares, the short-interest ratio is currently 2.3 days.

Institutional Trading of Gorman-Rupp

Several hedge funds have recently modified their holdings of GRC. New York State Teachers Retirement System purchased a new stake in shares of Gorman-Rupp during the first quarter worth approximately $82,000. Assenagon Asset Management S.A. grew its holdings in Gorman-Rupp by 42.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 62,433 shares of the industrial products company’s stock worth $2,469,000 after acquiring an additional 18,579 shares in the last quarter. Swisher Financial Concepts Inc. purchased a new stake in shares of Gorman-Rupp in the 1st quarter valued at approximately $216,000. Toth Financial Advisory Corp acquired a new stake in shares of Gorman-Rupp in the 1st quarter valued at $624,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Gorman-Rupp during the 4th quarter worth $640,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Trading Up 0.4 %

NYSE GRC traded up $0.12 on Tuesday, reaching $33.22. The stock had a trading volume of 144,490 shares, compared to its average volume of 76,189. Gorman-Rupp has a 12-month low of $23.62 and a 12-month high of $40.00. The stock has a fifty day moving average price of $37.11 and a two-hundred day moving average price of $34.52. The firm has a market capitalization of $870.90 million, a price-to-earnings ratio of 23.93, a P/E/G ratio of 1.66 and a beta of 0.92. The company has a quick ratio of 1.31, a current ratio of 2.35 and a debt-to-equity ratio of 1.09.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The firm had revenue of $159.27 million during the quarter, compared to analysts’ expectations of $168.49 million. Gorman-Rupp had a net margin of 5.52% and a return on equity of 10.60%. As a group, sell-side analysts forecast that Gorman-Rupp will post 1.55 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.17%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 52.17%.

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.