Proficio Capital Partners LLC Acquires Shares of 11,793 The Gorman-Rupp Company (NYSE:GRC)

Proficio Capital Partners LLC bought a new stake in The Gorman-Rupp Company (NYSE:GRC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,793 shares of the industrial products company’s stock, valued at approximately $447,000.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Gorman-Rupp by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,153 shares of the industrial products company’s stock worth $6,604,000 after buying an additional 1,266 shares during the last quarter. Bailard Inc. boosted its holdings in shares of Gorman-Rupp by 2.5% in the 4th quarter. Bailard Inc. now owns 16,395 shares of the industrial products company’s stock worth $622,000 after acquiring an additional 400 shares in the last quarter. Bank of New York Mellon Corp grew its position in 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 worth $7,051,000 after acquiring an additional 16,334 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Gorman-Rupp by 13.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 9,913 shares of the industrial products company’s stock valued at $376,000 after purchasing an additional 1,147 shares in the last quarter. Finally, Centricity Wealth Management LLC acquired a new stake in Gorman-Rupp during the 4th quarter valued at $38,000. Institutional investors own 59.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Gorman-Rupp Stock Up 1.7 %

Shares of NYSE:GRC opened at $35.81 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The firm has a market cap of $939.09 million, a P/E ratio of 23.40, a P/E/G ratio of 1.54 and a beta of 0.94. The Gorman-Rupp Company has a 12 month low of $30.47 and a 12 month high of $43.79. The company’s 50-day moving average price is $37.86 and its two-hundred day moving average price is $38.77.

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

Gorman-Rupp Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.07%. Gorman-Rupp’s payout ratio is currently 48.37%.

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.