The Gorman-Rupp Company (NYSE:GRC) Short Interest Update

The Gorman-Rupp Company (NYSE:GRC - Get Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 100,000 shares, a decrease of 22.3% from the February 28th total of 128,700 shares. Based on an average daily trading volume, of 70,300 shares, the short-interest ratio is currently 1.4 days. Currently, 0.5% of the company's stock are short sold.

Hedge Funds Weigh In On Gorman-Rupp

Several hedge funds have recently added to or reduced their stakes in GRC. Centricity Wealth Management LLC acquired a new position in shares of Gorman-Rupp in the 4th quarter valued at $38,000. Central Pacific Bank Trust Division purchased a new position in shares of Gorman-Rupp during the first quarter worth about $53,000. Point72 Asset Management L.P. acquired a new stake in shares of Gorman-Rupp during the third quarter worth about $62,000. Quantbot Technologies LP purchased a new stake in shares of Gorman-Rupp in the 3rd quarter valued at about $154,000. Finally, Aquatic Capital Management LLC boosted its position in shares of Gorman-Rupp by 46.2% in the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock valued at $161,000 after purchasing an additional 1,339 shares during the period. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Gorman-Rupp Stock Down 3.8 %

NYSE GRC traded down $1.30 during trading hours on Friday, hitting $32.60. 80,732 shares of the company were exchanged, compared to its average volume of 84,940. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The firm has a market cap of $855.01 million, a price-to-earnings ratio of 21.31, a PEG ratio of 1.54 and a beta of 0.94. The company has a 50 day moving average of $37.52 and a two-hundred day moving average of $38.70. Gorman-Rupp has a 52-week low of $30.47 and a 52-week high of $43.79.

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Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. During the same period last year, the firm earned $0.34 earnings per share. Equities research analysts anticipate that Gorman-Rupp will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Friday, February 14th. Gorman-Rupp's dividend payout ratio (DPR) is 48.37%.

Analysts Set New Price Targets

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

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.