Short Interest in The Gorman-Rupp Company (NYSE:GRC) Rises By 6.6%

The Gorman-Rupp Company (NYSE:GRC – Get Rating) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 216,300 shares, an increase of 6.6% from the February 13th total of 203,000 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 60,900 shares, the short-interest ratio is currently 3.6 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in shares of Gorman-Rupp in the 2nd quarter worth about $28,000. Public Employees Retirement System of Ohio raised its holdings in Gorman-Rupp by 61.0% in the third quarter. Public Employees Retirement System of Ohio now owns 1,327 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 503 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in Gorman-Rupp in the fourth quarter valued at $33,000. Tower Research Capital LLC TRC raised its holdings in Gorman-Rupp by 209.2% in the third quarter. Tower Research Capital LLC TRC now owns 1,824 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Gorman-Rupp in the first quarter valued at $77,000. Institutional investors and hedge funds own 59.79% of the company’s stock.

Gorman-Rupp Price Performance

GRC stock opened at $23.91 on Friday. The stock has a market capitalization of $625.96 million, a price-to-earnings ratio of 55.60 and a beta of 0.79. The company has a quick ratio of 1.34, a current ratio of 2.65 and a debt-to-equity ratio of 1.27. Gorman-Rupp has a 52-week low of $22.67 and a 52-week high of $37.79. The stock’s fifty day simple moving average is $27.27 and its 200-day simple moving average is $26.55.

Gorman-Rupp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Wednesday, February 15th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Tuesday, February 14th. Gorman-Rupp’s payout ratio is 162.79%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Gorman-Rupp in a research report on Thursday. They set a “hold” rating on the stock.

Gorman-Rupp Company Profile

(Get Rating)

The Gorman-Rupp Co engages in the design, manufacture, and global marketing of pumps and pump systems. Its pump models include self-priming centrifugal, standard centrifugal, submersible, rotary gear, diaphragm, engine-driven, and priming assist pumps as well as packaged pump stations. The firm offers its products to fire protection, municipal, industrial, agriculture, construction, petroleum, and original equipment manufacturer.