Renaissance Technologies LLC Sells 19,875 Shares of The Gorman-Rupp Company (NYSE:GRC)

Renaissance Technologies LLC lessened its position in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,955 shares of the industrial products company's stock after selling 19,875 shares during the quarter. Renaissance Technologies LLC owned 0.53% of Gorman-Rupp worth $5,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GRC. Centricity Wealth Management LLC purchased a new position in shares of Gorman-Rupp in the 4th quarter worth about $38,000. Inceptionr LLC lifted its position in Gorman-Rupp by 9.5% in the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock worth $265,000 after buying an additional 609 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Gorman-Rupp in the fourth quarter worth approximately $344,000. Y Intercept Hong Kong Ltd grew its position in Gorman-Rupp by 13.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 9,913 shares of the industrial products company's stock valued at $376,000 after acquiring an additional 1,147 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Gorman-Rupp during the third quarter worth approximately $399,000. Institutional investors own 59.26% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, February 25th.

Gorman-Rupp Trading Down 1.7 %

NYSE GRC traded down $0.59 during trading on Friday, hitting $34.66. 7,937 shares of the company's stock traded hands, compared to its average volume of 83,664. The firm has a market cap of $909.06 million, a P/E ratio of 22.65, a PEG ratio of 1.54 and a beta of 1.05. The stock has a fifty day moving average of $35.90 and a two-hundred day moving average of $38.07. 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 Gorman-Rupp Company has a 12-month low of $30.47 and a 12-month high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. The company had revenue of $163.95 million during the quarter, compared to analysts' expectations of $164.84 million. As a group, sell-side analysts expect that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, February 14th. Gorman-Rupp's payout ratio is 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.