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

The Gorman-Rupp Company (NYSE:GRC) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 141,500 shares, a drop of 7.0% from the October 15th total of 152,100 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average trading volume of 53,100 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Trading of Gorman-Rupp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new position in Gorman-Rupp in the 2nd quarter valued at about $28,000. Tompkins Financial Corp grew its holdings in shares of Gorman-Rupp by 500.0% during the 2nd quarter. Tompkins Financial Corp now owns 1,200 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Gorman-Rupp during the 1st quarter valued at approximately $32,000. Public Employees Retirement System of Ohio grew its holdings in shares of Gorman-Rupp by 61.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,327 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Gorman-Rupp by 209.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,824 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 1,234 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

Gorman-Rupp Stock Performance

NYSE GRC opened at $31.35 on Thursday. The firm has a 50-day moving average of $31.41 and a 200-day moving average of $29.39. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.27 and a current ratio of 2.28. The stock has a market cap of $820.93 million, a PE ratio of 29.02, a P/E/G ratio of 1.82 and a beta of 0.85. Gorman-Rupp has a 52-week low of $22.92 and a 52-week high of $33.74.

Gorman-Rupp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be paid a $0.18 dividend. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, November 14th. This represents a $0.72 annualized dividend and a yield of 2.30%. Gorman-Rupp’s payout ratio is 64.81%.

Analysts Set New Price Targets

A number of analysts have commented on GRC shares. StockNews.com upgraded shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. TheStreet upgraded shares of Gorman-Rupp from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Finally, Northcoast Research started coverage on shares of Gorman-Rupp in a research note on Wednesday, September 13th. They issued a “buy” rating and a $40.00 price target for the company.

About Gorman-Rupp

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.