Gamco Investors INC. ET AL Cuts Stock Position in The Gorman-Rupp Company (NYSE:GRC)

Gamco Investors INC. ET AL decreased its stake in The Gorman-Rupp Company (NYSE:GRC) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 522,938 shares of the industrial products company’s stock after selling 3,100 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Gorman-Rupp were worth $19,830,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC boosted its holdings in Gorman-Rupp by 70.1% in the 3rd quarter. FMR LLC now owns 19,679 shares of the industrial products company’s stock worth $766,000 after buying an additional 8,112 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Gorman-Rupp by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,666 shares of the industrial products company’s stock worth $1,584,000 after acquiring an additional 830 shares during the last quarter. Barclays PLC boosted its stake in shares of Gorman-Rupp by 317.9% in the third quarter. Barclays PLC now owns 34,777 shares of the industrial products company’s stock worth $1,355,000 after acquiring an additional 26,455 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Gorman-Rupp during the third quarter worth approximately $399,000. Finally, JPMorgan Chase & Co. raised its stake in Gorman-Rupp by 54.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company’s stock valued at $2,861,000 after purchasing an additional 25,977 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Gorman-Rupp Stock Up 0.3 %

GRC stock opened at $33.60 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average of $36.48 and a two-hundred day moving average of $38.32. The Gorman-Rupp Company has a 12 month low of $30.47 and a 12 month high of $43.79. The company has a market cap of $881.18 million, a price-to-earnings ratio of 21.96, a PEG ratio of 1.54 and a beta of 1.05.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate 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 firm posted $0.34 earnings per share. As a group, analysts forecast that The Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $0.185 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.74 annualized dividend and a dividend yield of 2.20%. Gorman-Rupp’s payout ratio is 48.37%.

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.