Fruth Investment Management Lowers stake in Gorman-Rupp Co (GRC)

Gorman-Rupp Co (GRC) : Fruth Investment Management reduced its stake in Gorman-Rupp Co by 3.71% during the most recent quarter end. The investment management company now holds a total of 74,002 shares of Gorman-Rupp Co which is valued at $1,855,970 after selling 2,854 shares in Gorman-Rupp Co , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Gorman-Rupp Co makes up approximately 0.94% of Fruth Investment Management’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc reduced its stake in GRC by selling 1,135 shares or 31.0% in the most recent quarter. The Hedge Fund company now holds 2,526 shares of GRC which is valued at $63,352.Bnp Paribas Arbitrage Sa boosted its stake in GRC in the latest quarter, The investment management firm added 19,598 additional shares and now holds a total of 20,280 shares of Gorman-Rupp Co which is valued at $517,140.

Gorman-Rupp Co closed down -0.27 points or -1.07% at $25.08 with 54,228 shares getting traded on Tuesday. Post opening the session at $25.38, the shares hit an intraday low of $24.79 and an intraday high of $25.39 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Gorman-Rupp Co reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.22. The company had revenue of $96.26 million for the quarter, compared to analysts expectations of $97.67 million. The company’s revenue was down -7.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Gorman-Rupp Co. Gorman-Rupp Co was Initiated by Sidoti to “Neutral” on Sep 20, 2016.

The Gorman-Rupp Company (Gorman-Rupp) designs manufactures and sells pumps and pump systems. The Company sells its products for use in water wastewater construction dewatering industrial petroleum original equipment agriculture fire protection heating ventilating and air conditioning (HVAC) military and other liquid-handling applications. The Company’s product line consists of pump models ranging in rated capacity from less than one gallon per minute to one million gallons per minute. The types of pumps produced by the Company 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. The production operations of the Company are conducted at several locations throughout the United States and other countries.

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