Y Intercept Hong Kong Ltd Increases Stake in Gorman-Rupp Company (The) $GRC

Y Intercept Hong Kong Ltd boosted its stake in Gorman-Rupp Company (The) (NYSE:GRC) by 38.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,123 shares of the industrial products company’s stock after purchasing an additional 2,553 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Gorman-Rupp were worth $335,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of GRC. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Gorman-Rupp by 8.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,329 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 1,093 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Gorman-Rupp in the 1st quarter worth $213,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gorman-Rupp in the first quarter valued at $221,000. Mackenzie Financial Corp increased its stake in Gorman-Rupp by 18.6% during the first quarter. Mackenzie Financial Corp now owns 18,107 shares of the industrial products company’s stock worth $636,000 after acquiring an additional 2,836 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Gorman-Rupp in the 1st quarter worth about $439,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Gorman-Rupp has an average rating of “Buy”.

Gorman-Rupp Price Performance

Shares of NYSE GRC opened at $44.43 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.08 and a quick ratio of 1.39. Gorman-Rupp Company has a 1-year low of $30.87 and a 1-year high of $49.24. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 1.71 and a beta of 1.24. The business has a 50-day moving average of $45.12 and a 200-day moving average of $40.67.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%.The company had revenue of $172.83 million for the quarter, compared to analyst estimates of $174.61 million. On average, equities analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.7%. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, November 14th. Gorman-Rupp’s payout ratio is currently 39.79%.

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.