Charles Schwab Investment Management Inc. Purchases 1,266 Shares of The Gorman-Rupp Company (NYSE:GRC)

Charles Schwab Investment Management Inc. raised its holdings in shares of The Gorman-Rupp Company (NYSE:GRC) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 174,153 shares of the industrial products company’s stock after acquiring an additional 1,266 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Gorman-Rupp were worth $6,604,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GRC. Bank of New York Mellon Corp lifted its holdings in shares of Gorman-Rupp by 9.6% during the 4th quarter. Bank of New York Mellon Corp now owns 185,956 shares of the industrial products company’s stock valued at $7,051,000 after purchasing an additional 16,334 shares in the last quarter. Needham Investment Management LLC raised its stake in Gorman-Rupp by 218.8% in the third quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company’s stock valued at $4,966,000 after buying an additional 87,500 shares during the period. JPMorgan Chase & Co. boosted its position in Gorman-Rupp by 54.7% during the third quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company’s stock worth $2,861,000 after purchasing an additional 25,977 shares during the period. Fisher Asset Management LLC grew its stake in Gorman-Rupp by 6.6% in the 3rd quarter. Fisher Asset Management LLC now owns 48,086 shares of the industrial products company’s stock valued at $1,873,000 after buying an additional 2,987 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Gorman-Rupp by 2.1% during 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 purchasing an additional 830 shares during the period. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Performance

Shares of NYSE:GRC opened at $35.81 on Tuesday. The Gorman-Rupp Company has a 1 year low of $30.47 and a 1 year high of $43.79. The company’s 50 day simple moving average is $37.86 and its 200 day simple moving average is $38.77. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The stock has a market capitalization of $939.09 million, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94.

Gorman-Rupp (NYSE:GRC) last issued its 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 quarter last year, the business posted $0.34 earnings per share. As a group, research analysts predict that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, February 14th. Gorman-Rupp’s dividend payout ratio is currently 48.37%.

Wall Street Analyst Weigh In

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 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.