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Jun 12, 2023

King Luther Capital Management Corp Has $9.13 Million Stake in The Gorman

King Luther Capital Management Corp raised its holdings in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing

King Luther Capital Management Corp raised its holdings in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 365,025 shares of the industrial products company's stock after acquiring an additional 4,000 shares during the period. King Luther Capital Management Corp owned about 1.39% of Gorman-Rupp worth $9,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in shares of Gorman-Rupp by 31.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,838 shares of the industrial products company's stock worth $46,000 after buying an additional 445 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Gorman-Rupp by 1.5% during the first quarter. Rhumbline Advisers now owns 34,551 shares of the industrial products company's stock worth $864,000 after buying an additional 494 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Gorman-Rupp by 61.0% during the third quarter. Public Employees Retirement System of Ohio now owns 1,327 shares of the industrial products company's stock worth $32,000 after buying an additional 503 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Gorman-Rupp by 3.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,625 shares of the industrial products company's stock worth $502,000 after buying an additional 702 shares in the last quarter. Finally, FMR LLC boosted its position in Gorman-Rupp by 7.0% during the first quarter. FMR LLC now owns 12,150 shares of the industrial products company's stock valued at $304,000 after purchasing an additional 796 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

GRC has been the subject of several recent research reports. TheStreet raised Gorman-Rupp from a "c" rating to a "b-" rating in a research report on Friday, July 28th. StockNews.com initiated coverage on Gorman-Rupp in a research report on Thursday, August 17th. They set a "buy" rating for the company.

Get Our Latest Analysis on Gorman-Rupp

NYSE GRC traded up $0.28 during trading hours on Monday, hitting $30.86. 35,299 shares of the company traded hands, compared to its average volume of 56,878. The business's 50-day moving average is $29.62 and its 200-day moving average is $26.93. The Gorman-Rupp Company has a twelve month low of $22.67 and a twelve month high of $33.74. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.30 and a current ratio of 2.50. The stock has a market capitalization of $808.22 million, a price-to-earnings ratio of 36.92 and a beta of 0.85.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter. Gorman-Rupp had a return on equity of 8.11% and a net margin of 3.43%. The company had revenue of $171.02 million during the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be given a $0.175 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.27%. Gorman-Rupp's payout ratio is 84.34%.

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.

Want to see what other hedge funds are holding GRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Gorman-Rupp Company (NYSE:GRC - Free Report).

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