The Gorman-Rupp Company (NYSE:GRC) Short Interest Down 21.5% in February

The Gorman-Rupp Company (NYSE:GRC) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 128,700 shares, a decrease of 21.5% from the February 13th total of 164,000 shares. Based on an average daily volume of 65,200 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.6% of the company’s shares are short sold.

Gorman-Rupp Trading Down 1.6 %

GRC traded down $0.59 during trading on Tuesday, reaching $37.06. 51,579 shares of the stock traded hands, compared to its average volume of 80,081. 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 stock’s 50-day moving average is $37.88 and its 200 day moving average is $38.80. Gorman-Rupp has a 12 month low of $30.47 and a 12 month high of $43.79. The stock has a market capitalization of $972.11 million, a PE ratio of 24.22, a P/E/G ratio of 1.54 and a beta of 0.94.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate 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 in the prior year, the business posted $0.34 EPS. Equities analysts anticipate that Gorman-Rupp will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $0.185 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.74 annualized dividend and a dividend yield of 2.00%. Gorman-Rupp’s dividend payout ratio is currently 48.37%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new position in shares of Gorman-Rupp during the third quarter valued at about $399,000. Cornercap Investment Counsel Inc. bought a new stake in Gorman-Rupp in the 3rd quarter valued at about $501,000. Mechanics Financial Corp raised its stake in Gorman-Rupp by 105.7% during the 3rd quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company’s stock worth $39,450,000 after buying an additional 520,361 shares during the period. Quest Partners LLC boosted its holdings in Gorman-Rupp by 50,800.0% in the third quarter. Quest Partners LLC now owns 7,635 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 7,620 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Gorman-Rupp by 6.6% in the third quarter. Fisher Asset Management LLC now owns 48,086 shares of the industrial products company’s stock valued at $1,873,000 after acquiring an additional 2,987 shares during the period. 59.26% of the stock is owned by institutional investors.

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.