Squarepoint Ops LLC Acquires Shares of 9,331 The Gorman-Rupp Company (NYSE:GRC)

Squarepoint Ops LLC bought a new stake in The Gorman-Rupp Company (NYSE:GRC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,331 shares of the industrial products company’s stock, valued at approximately $343,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRC. Livelsberger Financial Advisory acquired a new stake in shares of Gorman-Rupp in the 4th quarter valued at $640,000. Toth Financial Advisory Corp acquired a new stake in shares of Gorman-Rupp during the first quarter worth $624,000. BNP Paribas Financial Markets grew its stake in shares of Gorman-Rupp by 101.1% during the first quarter. BNP Paribas Financial Markets now owns 18,455 shares of the industrial products company’s stock worth $730,000 after purchasing an additional 9,278 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Gorman-Rupp by 2.3% during the first quarter. Russell Investments Group Ltd. now owns 72,344 shares of the industrial products company’s stock worth $2,861,000 after purchasing an additional 1,639 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Gorman-Rupp by 147.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 18,360 shares of the industrial products company’s stock worth $726,000 after purchasing an additional 10,946 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Stock Performance

Shares of Gorman-Rupp stock opened at $38.01 on Friday. The Gorman-Rupp Company has a one year low of $28.87 and a one year high of $42.24. The firm has a market cap of $996.28 million, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.45 and a quick ratio of 1.44. The stock’s 50-day moving average is $38.02 and its 200-day moving average is $37.02.

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

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.18 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.89%. Gorman-Rupp’s dividend payout ratio is 52.17%.

Analyst Upgrades and Downgrades

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

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.