The Gorman-Rupp Company (NYSE:GRC) Sees Large Decrease in Short Interest

The Gorman-Rupp Company (NYSE:GRC) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 100,000 shares, a decline of 22.3% from the February 28th total of 128,700 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 70,300 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On Gorman-Rupp

Several hedge funds have recently made changes to their positions in GRC. Centricity Wealth Management LLC purchased a new stake in Gorman-Rupp during the 4th quarter valued at about $38,000. Point72 Asset Management L.P. purchased a new stake in Gorman-Rupp in the third quarter valued at approximately $62,000. Quantbot Technologies LP acquired a new position in Gorman-Rupp in the 3rd quarter worth approximately $154,000. Aquatic Capital Management LLC raised its position in Gorman-Rupp by 46.2% during the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company’s stock worth $161,000 after buying an additional 1,339 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gorman-Rupp during the 3rd quarter valued at approximately $209,000. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Stock Down 0.0 %

GRC traded down $0.01 during trading on Monday, hitting $35.31. The stock had a trading volume of 12,369 shares, compared to its average volume of 84,584. The stock has a 50 day simple moving average of $37.74 and a two-hundred day simple moving average of $38.77. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. Gorman-Rupp has a twelve month low of $30.47 and a twelve month high of $43.79. The company has a market capitalization of $926.11 million, a PE ratio of 23.08, a PEG ratio of 1.54 and a beta of 0.94.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 previous year, the company earned $0.34 EPS. On average, research analysts predict that Gorman-Rupp will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Friday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is presently 48.37%.

Wall Street Analyst Weigh In

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

Gorman-Rupp Company 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.