Ladenburg Thalmann Financial Services Inc. Has $725,000 Position in Gorman-Rupp Co (NYSE:GRC)

Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Gorman-Rupp Co (NYSE:GRC) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,082 shares of the industrial products company’s stock after acquiring an additional 657 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned 0.08% of Gorman-Rupp worth $725,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in Gorman-Rupp by 389.9% during the second quarter. Bank of Montreal Can now owns 1,847 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 1,470 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Gorman-Rupp by 51.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,315 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 447 shares in the last quarter. KBC Group NV raised its stake in Gorman-Rupp by 3.2% during the second quarter. KBC Group NV now owns 92,953 shares of the industrial products company’s stock worth $3,052,000 after acquiring an additional 2,903 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Gorman-Rupp by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 159,549 shares of the industrial products company’s stock worth $5,238,000 after acquiring an additional 583 shares in the last quarter. Finally, Virginia Retirement Systems ET AL raised its stake in Gorman-Rupp by 6.8% during the second quarter. Virginia Retirement Systems ET AL now owns 7,800 shares of the industrial products company’s stock worth $256,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

Shares of GRC stock opened at $34.15 on Friday. The stock’s fifty day moving average is $32.36 and its 200-day moving average is $32.29. The stock has a market capitalization of $875.21 million, a PE ratio of 21.47 and a beta of 0.97. Gorman-Rupp Co has a 52 week low of $29.00 and a 52 week high of $36.92.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, July 26th. The industrial products company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $108.30 million for the quarter, compared to analysts’ expectations of $112.95 million. Gorman-Rupp had a return on equity of 13.12% and a net margin of 9.22%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share.

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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Institutional Ownership by Quarter for Gorman-Rupp (NYSE:GRC)

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