Fruth Investment Management Has $2.62 Million Stock Position in The Gorman-Rupp Company (NYSE:GRC)

Fruth Investment Management reduced its stake in shares of The Gorman-Rupp Company (NYSE:GRC) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 67,385 shares of the industrial products company’s stock after selling 1,627 shares during the period. Fruth Investment Management owned approximately 0.26% of Gorman-Rupp worth $2,624,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Gorman-Rupp by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock worth $49,156,000 after acquiring an additional 17,340 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Gorman-Rupp by 20.7% during the 2nd quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock worth $4,434,000 after acquiring an additional 20,689 shares in the last quarter. Robeco Schweiz AG bought a new position in shares of Gorman-Rupp during the 2nd quarter worth approximately $7,876,000. CWM LLC grew its stake in shares of Gorman-Rupp by 76.8% during the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 400 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Gorman-Rupp by 55.3% during the 1st quarter. Quadrature Capital Ltd now owns 9,737 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 3,468 shares in the last quarter. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Price Performance

NYSE:GRC opened at $38.82 on Tuesday. The Gorman-Rupp Company has a 1-year low of $28.87 and a 1-year high of $42.24. The company has a current ratio of 2.45, a quick ratio of 1.44 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $38.05 and a 200 day simple moving average of $36.99. The stock has a market capitalization of $1.02 billion, a PE ratio of 28.13, a P/E/G ratio of 1.60 and a beta of 0.91.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, July 26th. The industrial products company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.10. Gorman-Rupp had a net margin of 5.20% and a return on equity of 11.39%. The business had revenue of $169.51 million during the quarter, compared to analysts’ expectations of $174.44 million. On average, research analysts expect that The Gorman-Rupp Company will post 1.85 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. Gorman-Rupp’s dividend payout ratio is presently 52.17%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Gorman-Rupp Profile

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.