Gorman-Rupp Company (The) (NYSE:GRC) Short Interest Up 41.2% in October

by · The Cerbat Gem

Gorman-Rupp Company (The) (NYSE:GRC – Get Free Report) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 227,800 shares, an increase of 41.2% from the September 30th total of 161,300 shares. Based on an average daily volume of 83,300 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.1% of the company’s shares are short sold. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 83,300 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GRC. Wall Street Zen lowered shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

Get Our Latest Analysis on GRC

Gorman-Rupp Stock Down 1.9%

Shares of Gorman-Rupp stock traded down $0.87 during trading hours on Tuesday, reaching $44.70. The company’s stock had a trading volume of 77,059 shares, compared to its average volume of 70,761. Gorman-Rupp has a one year low of $30.87 and a one year high of $49.24. The company has a market capitalization of $1.18 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.71 and a beta of 1.22. The stock’s fifty day simple moving average is $44.97 and its two-hundred day simple moving average is $40.44. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.39 and a current ratio of 2.08.

Gorman-Rupp (NYSE:GRC – Get Free Report) last announced its earnings results on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $172.83 million during the quarter, compared to analysts’ expectations of $174.61 million. Gorman-Rupp had a net margin of 7.41% and a return on equity of 13.49%. On average, research analysts forecast that Gorman-Rupp will post 1.98 earnings per share for the current year.

Gorman-Rupp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $0.19 dividend. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, November 14th. Gorman-Rupp’s dividend payout ratio is currently 39.79%.

Institutional Trading of Gorman-Rupp

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of Gorman-Rupp by 8.5% in the third quarter. SG Americas Securities LLC now owns 3,443 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 269 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Gorman-Rupp by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,961 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 276 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Gorman-Rupp by 0.7% in the second quarter. Fisher Asset Management LLC now owns 45,626 shares of the industrial products company’s stock valued at $1,675,000 after purchasing an additional 312 shares during the last quarter. Jump Financial LLC raised its holdings in shares of Gorman-Rupp by 6.3% in the second quarter. Jump Financial LLC now owns 6,440 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 379 shares during the last quarter. Finally, Martingale Asset Management L P raised its holdings in shares of Gorman-Rupp by 1.3% in the first quarter. Martingale Asset Management L P now owns 30,120 shares of the industrial products company’s stock valued at $1,057,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

(Get Free Report)

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.

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