Cooke & Bieler LP Cuts Stock Holdings in The Gorman-Rupp Company (NYSE:GRC)

Cooke & Bieler LP lowered its position in The Gorman-Rupp Company (NYSE:GRC) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 561,160 shares of the industrial products company’s stock after selling 9,700 shares during the period. Cooke & Bieler LP’s holdings in Gorman-Rupp were worth $19,938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Gorman-Rupp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company’s stock worth $74,230,000 after buying an additional 19,797 shares during the last quarter. BlackRock Inc. grew its position in shares of Gorman-Rupp by 7.8% in the 2nd quarter. BlackRock Inc. now owns 1,604,425 shares of the industrial products company’s stock worth $46,256,000 after buying an additional 116,189 shares during the last quarter. Gamco Investors INC. ET AL grew its position in shares of Gorman-Rupp by 2.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 552,638 shares of the industrial products company’s stock worth $18,182,000 after buying an additional 15,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Gorman-Rupp by 9.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company’s stock worth $17,911,000 after buying an additional 46,396 shares during the last quarter. Finally, State Street Corp grew its position in shares of Gorman-Rupp by 4.9% in the 1st quarter. State Street Corp now owns 504,751 shares of the industrial products company’s stock worth $12,619,000 after buying an additional 23,648 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Down 0.1 %

Shares of Gorman-Rupp stock traded down $0.02 on Friday, reaching $36.02. The stock had a trading volume of 200,357 shares, compared to its average volume of 54,867. The company has a 50 day moving average price of $37.43 and a 200 day moving average price of $34.40. The company has a quick ratio of 1.31, a current ratio of 2.35 and a debt-to-equity ratio of 1.09. The Gorman-Rupp Company has a 1 year low of $23.22 and a 1 year high of $40.00. The stock has a market capitalization of $944.44 million, a P/E ratio of 27.11, a P/E/G ratio of 1.75 and a beta of 0.92.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, February 2nd. The industrial products company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The company had revenue of $160.57 million during the quarter, compared to analysts’ expectations of $155.88 million. Gorman-Rupp had a net margin of 5.30% and a return on equity of 10.47%. During the same period last year, the business earned $0.11 EPS. As a group, equities research analysts forecast that The Gorman-Rupp Company will post 1.58 EPS for the current year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 15th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is presently 54.14%.

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.