DekaBank Deutsche Girozentrale Takes Position in The Gorman-Rupp Company (NYSE:GRC)

DekaBank Deutsche Girozentrale acquired a new position in The Gorman-Rupp Company (NYSE:GRC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,402 shares of the industrial products company’s stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GRC. Dimensional Fund Advisors LP increased its holdings in shares of Gorman-Rupp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,321,685 shares of the industrial products company’s stock worth $46,960,000 after purchasing an additional 13,129 shares in the last quarter. Cooke & Bieler LP increased its holdings in Gorman-Rupp by 3.3% in the 2nd quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock worth $20,683,000 after buying an additional 17,977 shares in the last quarter. Grace & White Inc. NY raised its position in Gorman-Rupp by 1.5% in the 2nd quarter. Grace & White Inc. NY now owns 350,704 shares of the industrial products company’s stock worth $12,874,000 after buying an additional 5,033 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Gorman-Rupp by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock worth $11,244,000 after buying an additional 944 shares during the last quarter. Finally, Robeco Schweiz AG purchased a new stake in shares of Gorman-Rupp during the 2nd quarter valued at about $7,876,000. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Price Performance

NYSE GRC opened at $38.38 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.51 and a beta of 0.92. The Gorman-Rupp Company has a 1-year low of $28.87 and a 1-year high of $42.24. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.45 and a quick ratio of 1.44. The business’s fifty day moving average price is $38.58 and its 200-day moving average price is $36.90.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Friday, July 26th. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $169.51 million for the quarter, compared to the consensus estimate of $174.44 million. Gorman-Rupp had a return on equity of 11.39% and a net margin of 5.20%. On average, equities analysts predict that The Gorman-Rupp Company will post 1.85 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.88%. Gorman-Rupp’s dividend payout ratio (DPR) is 52.17%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.

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.