Gorman-Rupp Co (NYSE:GRC) Short Interest Up 10.9% in December

Gorman-Rupp Co (NYSE:GRC) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 328,400 shares, an increase of 10.9% from the December 15th total of 296,200 shares. Based on an average trading volume of 49,100 shares, the short-interest ratio is currently 6.7 days. Approximately 1.9% of the shares of the stock are sold short.

In other news, Director Christopher H. Lake sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $36.46, for a total transaction of $72,920.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.40% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Fruth Investment Management lifted its position in shares of Gorman-Rupp by 5.6% in the fourth quarter. Fruth Investment Management now owns 66,095 shares of the industrial products company’s stock valued at $2,478,000 after acquiring an additional 3,484 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Gorman-Rupp by 112.3% during the third quarter. Squarepoint Ops LLC now owns 16,959 shares of the industrial products company’s stock worth $590,000 after purchasing an additional 8,969 shares during the last quarter. Zebra Capital Management LLC boosted its holdings in shares of Gorman-Rupp by 12.3% during the third quarter. Zebra Capital Management LLC now owns 7,789 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 856 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Gorman-Rupp by 1.2% in the third quarter. California State Teachers Retirement System now owns 27,455 shares of the industrial products company’s stock valued at $955,000 after purchasing an additional 328 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Gorman-Rupp in the third quarter valued at $49,000. Hedge funds and other institutional investors own 53.77% of the company’s stock.

Separately, Sidoti cut Gorman-Rupp from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Tuesday, December 17th.

NYSE GRC traded down $0.02 during trading hours on Thursday, reaching $38.23. The company’s stock had a trading volume of 571 shares, compared to its average volume of 46,378. The stock has a market cap of $980.79 million, a PE ratio of 26.06 and a beta of 0.97. Gorman-Rupp has a fifty-two week low of $29.00 and a fifty-two week high of $39.60. The company’s 50-day moving average is $37.57 and its two-hundred day moving average is $34.34.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, October 25th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Gorman-Rupp had a return on equity of 12.52% and a net margin of 9.07%. The business had revenue of $99.30 million for the quarter, compared to analyst estimates of $101.86 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue was down 3.5% on a year-over-year basis.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. 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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