Teacher Retirement System of Texas Sells 7,266 Shares of The Gorman-Rupp Company (NYSE:GRC)

Teacher Retirement System of Texas trimmed its stake in shares of The Gorman-Rupp Company (NYSE:GRC) by 23.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,319 shares of the industrial products company’s stock after selling 7,266 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.09% of Gorman-Rupp worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in Gorman-Rupp during the 4th quarter worth approximately $344,000. Aurora Investment Counsel bought a new position in Gorman-Rupp during the fourth quarter worth $2,083,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Gorman-Rupp by 8.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 69,564 shares of the industrial products company’s stock worth $2,638,000 after buying an additional 5,602 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in Gorman-Rupp by 81.8% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 16,216 shares of the industrial products company’s stock valued at $615,000 after acquiring an additional 7,294 shares during the last quarter. Finally, Inceptionr LLC grew its holdings in Gorman-Rupp by 9.5% during the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 609 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Price Performance

Gorman-Rupp stock opened at $35.34 on Friday. The stock’s 50 day moving average price is $37.74 and its two-hundred day moving average price is $38.76. The stock has a market capitalization of $927.00 million, a price-to-earnings ratio of 23.10, a PEG ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The Gorman-Rupp Company has a 52-week low of $30.47 and a 52-week high of $43.79.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.42 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 quarter last year, the firm earned $0.34 earnings per share. On average, equities analysts predict that The Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 48.37%.

Analysts Set New Price Targets

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

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.