The Gorman-Rupp Company (NYSE:GRC) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its holdings in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 69.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,854 shares of the industrial products company's stock after selling 13,335 shares during the period. Hsbc Holdings PLC's holdings in Gorman-Rupp were worth $213,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. CWM LLC grew its stake in Gorman-Rupp by 76.8% in 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 in the last quarter. Mather Group LLC. grew its position in shares of Gorman-Rupp by 517.0% in the 2nd quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company's stock worth $63,000 after acquiring an additional 1,339 shares in the last quarter. Lazard Asset Management LLC increased its holdings 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 valued at $80,000 after acquiring an additional 797 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Gorman-Rupp in the 1st quarter valued at approximately $82,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Gorman-Rupp during the 1st quarter valued at approximately $131,000. Institutional investors and hedge funds own 59.26% of the company's stock.

Gorman-Rupp Stock Performance

Shares of NYSE:GRC traded up $0.65 during trading on Friday, reaching $38.74. 62,677 shares of the company's stock traded hands, compared to its average volume of 91,571. The stock has a market capitalization of $1.02 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. The Gorman-Rupp Company has a 12 month low of $28.87 and a 12 month high of $42.24. The company has a 50 day moving average of $38.21 and a 200-day moving average of $37.01. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.45 and a quick ratio of 1.44.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its earnings results on Friday, July 26th. The industrial products company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.44 by $0.10. The company had revenue of $169.51 million during 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%. On average, equities analysts expect that The Gorman-Rupp Company will post 1.85 EPS for the current year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, August 15th. Gorman-Rupp's dividend payout ratio is presently 52.17%.

Wall Street Analyst Weigh In

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

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.