Ameriprise Financial Inc. decreased its stake in Gorman-Rupp Co. (NYSEMKT:GRC) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,995 shares of the company’s stock after selling 3,400 shares during the period. Ameriprise Financial Inc. owned 0.61% of Gorman-Rupp worth $4,359,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. BlackRock Inc. increased its position in Gorman-Rupp by 10.8% in the first quarter. BlackRock Inc. now owns 8,102 shares of the company’s stock worth $210,000 after buying an additional 790 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Gorman-Rupp during the first quarter valued at $252,000. Spark Investment Management LLC bought a new position in shares of Gorman-Rupp during the first quarter valued at $417,000. Janney Montgomery Scott LLC increased its position in shares of Gorman-Rupp by 102.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,598 shares of the company’s stock valued at $639,000 after buying an additional 11,916 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Gorman-Rupp by 4.0% in the first quarter. BlackRock Group LTD now owns 50,408 shares of the company’s stock valued at $1,307,000 after buying an additional 1,920 shares during the period.
Shares of Gorman-Rupp Co. (NYSEMKT:GRC) traded up 0.44% during trading on Tuesday, reaching $24.86. The company had a trading volume of 8,268 shares. The stock’s 50-day moving average price is $25.86 and its 200-day moving average price is $27.23. Gorman-Rupp Co. has a 12 month low of $21.09 and a 12 month high of $32.60. The stock has a market capitalization of $648.62 million, a PE ratio of 26.90 and a beta of 1.13.
Gorman-Rupp (NYSEMKT:GRC) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The firm had revenue of $96.30 million for the quarter, compared to analyst estimates of $97.70 million. During the same quarter in the previous year, the company earned $0.25 EPS. The company’s quarterly revenue was down 7.3% compared to the same quarter last year. Equities analysts forecast that Gorman-Rupp Co. will post $0.96 earnings per share for the current fiscal year.
GRC has been the topic of several analyst reports. TheStreet downgraded Gorman-Rupp from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Zacks Investment Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a report on Monday, August 1st. Finally, Sidoti began coverage on Gorman-Rupp in a report on Tuesday, September 20th. They issued a “neutral” rating and a $30.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, Gorman-Rupp presently has a consensus rating of “Hold” and a consensus target price of $17.90.
In other Gorman-Rupp news, Director Kenneth R. Reynolds acquired 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was acquired at an average cost of $27.00 per share, with a total value of $67,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director W Wayne Walston sold 2,000 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $27.31, for a total value of $54,620.00. The disclosure for this sale can be found here.
Gorman-Rupp Company Profile