ExodusPoint Capital Management LP Buys 9,354 Shares of The Gorman-Rupp Company (NYSE:GRC)

ExodusPoint Capital Management LP raised its stake in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 133.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,389 shares of the industrial products company's stock after acquiring an additional 9,354 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.06% of Gorman-Rupp worth $621,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Centricity Wealth Management LLC acquired a new position in Gorman-Rupp in the fourth quarter valued at about $38,000. Point72 Asset Management L.P. bought a new position in shares of Gorman-Rupp in the third quarter valued at approximately $62,000. Inceptionr LLC grew its position in Gorman-Rupp by 9.5% during the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock worth $265,000 after acquiring an additional 609 shares during the last quarter. Verition Fund Management LLC increased its holdings in Gorman-Rupp by 13.7% during the 3rd quarter. Verition Fund Management LLC now owns 7,145 shares of the industrial products company's stock valued at $278,000 after purchasing an additional 860 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Gorman-Rupp in the 4th quarter valued at $344,000. Institutional investors and hedge funds own 59.26% of the company's stock.

Wall Street Analysts Forecast Growth

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

Gorman-Rupp Price Performance

Shares of GRC stock traded down $0.10 during trading hours on Thursday, reaching $33.37. 10,816 shares of the company were exchanged, compared to its average volume of 85,429. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The company has a market cap of $875.23 million, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.54 and a beta of 1.05. The stock's fifty day moving average is $36.41 and its two-hundred day moving average is $38.29. The Gorman-Rupp Company has a fifty-two week low of $30.47 and a fifty-two week high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share (EPS) 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 last year, the company posted $0.34 EPS. Sell-side analysts forecast that The Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $0.185 per share. The ex-dividend date was Friday, February 14th. This represents a $0.74 annualized dividend and a yield of 2.22%. Gorman-Rupp's dividend payout ratio is currently 48.37%.

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.