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Jun 20, 2023

US Bancorp DE Cuts Position in The Gorman

US Bancorp DE cut its stake in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned

US Bancorp DE cut its stake in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,352 shares of the industrial products company's stock after selling 3,377 shares during the period. US Bancorp DE owned about 0.30% of Gorman-Rupp worth $1,984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GRC. Bank of New York Mellon Corp grew its position in Gorman-Rupp by 16.5% in the first quarter. Bank of New York Mellon Corp now owns 411,328 shares of the industrial products company's stock worth $14,759,000 after acquiring an additional 58,348 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Gorman-Rupp in the first quarter worth $77,000. MetLife Investment Management LLC grew its position in Gorman-Rupp by 63.2% in the first quarter. MetLife Investment Management LLC now owns 11,912 shares of the industrial products company's stock worth $427,000 after acquiring an additional 4,612 shares in the last quarter. Vanguard Group Inc. grew its position in Gorman-Rupp by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,083,871 shares of the industrial products company's stock worth $74,769,000 after acquiring an additional 8,477 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Gorman-Rupp by 15.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 185,924 shares of the industrial products company's stock valued at $6,671,000 after buying an additional 25,075 shares during the period. 59.18% of the stock is currently owned by hedge funds and other institutional investors.

NYSE GRC opened at $30.76 on Friday. The company has a 50-day simple moving average of $29.30 and a two-hundred day simple moving average of $26.89. The company has a quick ratio of 1.30, a current ratio of 2.50 and a debt-to-equity ratio of 1.21. The Gorman-Rupp Company has a 12-month low of $22.67 and a 12-month high of $33.74. The firm has a market cap of $805.60 million, a price-to-earnings ratio of 37.06 and a beta of 0.85.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.175 per share. 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 2.28%. Gorman-Rupp's dividend payout ratio is currently 84.34%.

Several analysts have issued reports on the stock. TheStreet upgraded shares of Gorman-Rupp from a "c" rating to a "b-" rating in a research report on Friday, July 28th. StockNews.com assumed coverage on shares of Gorman-Rupp in a research report on Thursday. They set a "buy" rating for the company.

Read Our Latest Stock Report on 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.

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