Teacher Retirement System of Texas Sells 7,266 Shares of The Gorman-Rupp Company (NYSE:GRC)

Teacher Retirement System of Texas lessened its holdings in The Gorman-Rupp Company (NYSE:GRC) by 23.8% during the fourth quarter, HoldingsChannel reports. The fund owned 23,319 shares of the industrial products company’s stock after selling 7,266 shares during the quarter. Teacher Retirement System of Texas’ holdings in Gorman-Rupp were worth $884,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GRC. Intech Investment Management LLC purchased a new stake in shares of Gorman-Rupp in the fourth quarter worth approximately $344,000. Aurora Investment Counsel bought a new stake in Gorman-Rupp during the fourth quarter worth $2,083,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Gorman-Rupp by 8.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 69,564 shares of the industrial products company’s stock valued at $2,638,000 after buying an additional 5,602 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Gorman-Rupp by 81.8% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 16,216 shares of the industrial products company’s stock valued at $615,000 after acquiring an additional 7,294 shares in the last quarter. Finally, Inceptionr LLC boosted its holdings in Gorman-Rupp by 9.5% during the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 609 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

Shares of NYSE GRC opened at $35.34 on Friday. The company has a market capitalization of $927.00 million, a PE ratio of 23.10, a PEG ratio of 1.54 and a beta of 0.94. 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 stock’s 50 day moving average price is $37.74 and its 200-day moving average price is $38.76. The Gorman-Rupp Company has a twelve month low of $30.47 and a twelve month high of $43.79.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, equities analysts anticipate that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $0.185 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.74 dividend on an annualized basis and a yield of 2.09%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 48.37%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 25th.

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.