The Gorman-Rupp Company (NYSE:GRC) Short Interest Update

The Gorman-Rupp Company (NYSE:GRC) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 128,700 shares, a drop of 21.5% from the February 13th total of 164,000 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 65,200 shares, the short-interest ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 25th.

Gorman-Rupp Stock Performance

Shares of GRC stock traded up $0.01 during trading hours on Monday, reaching $37.59. 55,620 shares of the company traded hands, compared to its average volume of 80,298. Gorman-Rupp has a 12-month low of $30.47 and a 12-month high of $43.79. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The company has a market cap of $986.02 million, a P/E ratio of 24.57, a P/E/G ratio of 1.54 and a beta of 0.94. The firm has a 50-day moving average price of $37.88 and a 200 day moving average price of $38.83.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same period in the prior year, the company posted $0.34 earnings per share. As a group, sell-side analysts predict that Gorman-Rupp will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Friday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is 48.37%.

Hedge Funds Weigh In On Gorman-Rupp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Gorman-Rupp by 81.8% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 16,216 shares of the industrial products company’s stock worth $615,000 after purchasing an additional 7,294 shares during the period. Mackenzie Financial Corp boosted its holdings in Gorman-Rupp by 150.4% during the 4th quarter. Mackenzie Financial Corp now owns 15,271 shares of the industrial products company’s stock valued at $579,000 after acquiring an additional 9,172 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Gorman-Rupp by 40.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,245 shares of the industrial products company’s stock valued at $2,171,000 after acquiring an additional 16,579 shares during the period. Squarepoint Ops LLC purchased a new position in Gorman-Rupp during the 4th quarter valued at $384,000. Finally, Two Sigma Advisers LP boosted its holdings in Gorman-Rupp by 18.5% during the 4th quarter. Two Sigma Advisers LP now owns 57,040 shares of the industrial products company’s stock valued at $2,163,000 after acquiring an additional 8,900 shares during the period. Hedge funds and other institutional investors own 59.26% of the company’s stock.

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.