The Gorman-Rupp Company (NYSE:GRC) Shares Sold by Park National Corp OH

Park National Corp OH lessened its stake in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 21.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,197 shares of the industrial products company's stock after selling 16,458 shares during the quarter. Park National Corp OH owned about 0.23% of Gorman-Rupp worth $2,345,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GRC. CWM LLC boosted its holdings in shares of Gorman-Rupp by 76.8% during the second quarter. CWM LLC now owns 921 shares of the industrial products company's stock worth $34,000 after purchasing an additional 400 shares during the last quarter. Mather Group LLC. raised its stake in Gorman-Rupp by 517.0% during the second quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company's stock worth $63,000 after purchasing an additional 1,339 shares during the period. Lazard Asset Management LLC raised its position in shares of Gorman-Rupp by 63.8% in the 1st quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company's stock worth $80,000 after buying an additional 797 shares during the period. New York State Teachers Retirement System purchased a new position in shares of Gorman-Rupp in the 1st quarter worth about $82,000. Finally, SG Americas Securities LLC purchased a new position in shares of Gorman-Rupp in the 2nd quarter worth about $122,000. Hedge funds and other institutional investors own 59.26% of the company's stock.

Gorman-Rupp Stock Up 1.2 %

Shares of NYSE:GRC traded up $0.45 during midday trading on Friday, hitting $38.54. 27,438 shares of the company's stock traded hands, compared to its average volume of 91,375. The Gorman-Rupp Company has a twelve month low of $28.87 and a twelve month high of $42.24. The company has a market cap of $1.01 billion, a PE ratio of 27.78, a P/E/G ratio of 1.61 and a beta of 0.91. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.44 and a current ratio of 2.45. The firm's fifty day moving average price is $38.26 and its two-hundred day moving average price is $37.01.

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

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.87%. The ex-dividend date was Thursday, August 15th. Gorman-Rupp's dividend payout ratio (DPR) is 52.17%.

Wall Street Analysts Forecast Growth

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

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.