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

The Gorman-Rupp Company (NYSE:GRC - Get Free Report) saw a significant decline in short interest in September. As of September 30th, there was short interest totalling 98,700 shares, a decline of 16.8% from the September 15th total of 118,700 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 88,900 shares, the days-to-cover ratio is presently 1.1 days.

Gorman-Rupp Price Performance

NYSE:GRC traded down $0.10 during mid-day trading on Monday, hitting $38.82. 28,713 shares of the stock traded hands, compared to its average volume of 89,905. The business's 50-day moving average price is $38.05 and its 200 day moving average price is $36.99. The company has a quick ratio of 1.44, a current ratio of 2.45 and a debt-to-equity ratio of 1.05. The company has a market cap of $1.02 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.91. Gorman-Rupp has a 12-month low of $28.87 and a 12-month high of $42.24.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.10. Gorman-Rupp had a net margin of 5.20% and a return on equity of 11.39%. The firm had revenue of $169.51 million during the quarter, compared to analyst estimates of $174.44 million. On average, analysts expect that Gorman-Rupp will post 1.85 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. Gorman-Rupp's payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Gorman-Rupp from a "strong-buy" rating to a "buy" rating in a report on Tuesday, August 6th.

Institutional Trading of Gorman-Rupp

Large investors have recently modified their holdings of the business. Livelsberger Financial Advisory purchased a new stake in Gorman-Rupp in the fourth quarter valued at approximately $640,000. Toth Financial Advisory Corp purchased a new position in Gorman-Rupp in the first quarter worth $624,000. BNP Paribas Financial Markets increased its stake in Gorman-Rupp by 101.1% in the first quarter. BNP Paribas Financial Markets now owns 18,455 shares of the industrial products company's stock valued at $730,000 after acquiring an additional 9,278 shares during the last quarter. Russell Investments Group Ltd. raised its position in 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 valued at $2,861,000 after purchasing an additional 1,639 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in 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 valued at $726,000 after purchasing an additional 10,946 shares in the last quarter. 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.