The Gorman-Rupp Company (NYSE:GRC) Short Interest Down 21.5% in February

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

Gorman-Rupp Stock Down 1.6 %

GRC traded down $0.59 during mid-day trading on Tuesday, reaching $37.06. 51,579 shares of the stock were exchanged, compared to its average volume of 80,081. Gorman-Rupp has a 1 year low of $30.47 and a 1 year high of $43.79. 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 stock has a market capitalization of $972.11 million, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94. The company has a 50 day moving average price of $37.88 and a two-hundred day moving average price of $38.80.

Gorman-Rupp (NYSE:GRC) last released its quarterly 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 quarter in the previous year, the firm earned $0.34 EPS. As a group, research analysts anticipate that Gorman-Rupp will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, February 14th. Gorman-Rupp’s dividend payout ratio is presently 48.37%.

Institutional Trading of Gorman-Rupp

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

Analyst Upgrades and Downgrades

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

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.