Park National Corp OH Sells 10,181 Shares of Gorman-Rupp Company (The) $GRC

Park National Corp OH lessened its stake in Gorman-Rupp Company (The) (NYSE:GRC) by 19.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,366 shares of the industrial products company’s stock after selling 10,181 shares during the quarter. Park National Corp OH owned approximately 0.16% of Gorman-Rupp worth $2,023,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GRC. Legal & General Group Plc raised its holdings in shares of Gorman-Rupp by 11.8% during the 2nd quarter. Legal & General Group Plc now owns 263,975 shares of the industrial products company’s stock worth $9,719,000 after acquiring an additional 27,856 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Gorman-Rupp in the third quarter valued at $4,007,000. Gamco Investors INC. ET AL grew its holdings in shares of Gorman-Rupp by 6.9% in the second quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company’s stock valued at $21,775,000 after purchasing an additional 38,260 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Gorman-Rupp by 3.0% in the second quarter. Geode Capital Management LLC now owns 520,534 shares of the industrial products company’s stock valued at $19,117,000 after purchasing an additional 14,997 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Gorman-Rupp by 2,664,700.0% in the third quarter. Victory Capital Management Inc. now owns 266,480 shares of the industrial products company’s stock worth $12,367,000 after purchasing an additional 266,470 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Down 2.6%

Shares of NYSE GRC opened at $58.95 on Friday. Gorman-Rupp Company has a 12-month low of $30.87 and a 12-month high of $68.02. The stock’s fifty day simple moving average is $59.90 and its two-hundred day simple moving average is $50.99. The stock has a market capitalization of $1.55 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.27. The company has a current ratio of 2.37, a quick ratio of 1.39 and a debt-to-equity ratio of 0.69.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. Gorman-Rupp had a return on equity of 14.06% and a net margin of 7.77%.The firm had revenue of $166.57 million during the quarter, compared to analyst estimates of $167.08 million. As a group, analysts expect that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were issued a $0.19 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. Gorman-Rupp’s payout ratio is currently 37.81%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GRC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Gorman-Rupp has a consensus rating of “Buy”.

Gorman-Rupp Company Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.