Short Interest in The Gorman-Rupp Company (NYSE:GRC) Rises By 115.1%

The Gorman-Rupp Company (NYSE:GRC) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 142,200 shares, an increase of 115.1% from the January 15th total of 66,100 shares. Based on an average trading volume of 65,700 shares, the days-to-cover ratio is currently 2.2 days. Approximately 0.7% of the shares of the company are short sold.

Gorman-Rupp Price Performance

Shares of GRC stock traded up $0.36 during mid-day trading on Thursday, hitting $37.99. 41,048 shares of the stock were exchanged, compared to its average volume of 59,260. Gorman-Rupp has a 52-week low of $30.47 and a 52-week high of $43.79. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The company has a market cap of $996.27 million, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. The firm has a fifty day moving average of $38.52 and a 200 day moving average of $38.88.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a net margin of 5.80% and a return on equity of 12.32%. During the same period last year, the business earned $0.34 earnings per share. Research analysts anticipate that Gorman-Rupp will post 1.78 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, February 14th. Gorman-Rupp’s dividend payout ratio is presently 48.37%.

Institutional Trading of Gorman-Rupp

Institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its stake in Gorman-Rupp by 317.9% in the 3rd quarter. Barclays PLC now owns 34,777 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 26,455 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Gorman-Rupp by 5,461.5% in the third quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 710 shares in the last quarter. Summit Global Investments acquired a new stake in shares of Gorman-Rupp in the third quarter worth approximately $470,000. Janney Montgomery Scott LLC increased its position in shares of Gorman-Rupp by 91.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,711 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 11,827 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Gorman-Rupp in the 3rd quarter valued at $595,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Friday, November 29th.

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.