The Gorman-Rupp Company (NYSE:GRC) Stake Lifted by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of The Gorman-Rupp Company (NYSE:GRC) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,320 shares of the industrial products company’s stock after acquiring an additional 548 shares during the quarter. Rhumbline Advisers owned about 0.12% of Gorman-Rupp worth $1,188,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Gorman-Rupp by 5,461.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 710 shares during the period. Principal Financial Group Inc. acquired a new position in Gorman-Rupp during the third quarter worth about $399,000. Summit Global Investments bought a new stake in Gorman-Rupp in the third quarter worth about $470,000. Cornercap Investment Counsel Inc. acquired a new stake in Gorman-Rupp in the 3rd quarter valued at about $501,000. Finally, Mechanics Financial Corp boosted its position in shares of Gorman-Rupp by 105.7% during the 3rd quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company’s stock valued at $39,450,000 after purchasing an additional 520,361 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

Shares of NYSE:GRC opened at $37.93 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The company has a market capitalization of $994.85 million, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97. The stock has a fifty day moving average of $37.92 and a 200-day moving average of $38.89. The Gorman-Rupp Company has a one year low of $30.47 and a one year high of $43.79.

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

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $0.185 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.74 annualized dividend and a dividend yield of 1.95%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 48.37%.

Analyst Ratings Changes

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

Gorman-Rupp Company Profile

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.