Intech Investment Management LLC Buys New Shares in The Gorman-Rupp Company (NYSE:GRC)

Intech Investment Management LLC purchased a new stake in The Gorman-Rupp Company (NYSE:GRC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,069 shares of the industrial products company’s stock, valued at approximately $344,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GRC. Bank of New York Mellon Corp lifted its stake in shares of Gorman-Rupp by 9.6% in the fourth 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 buying an additional 16,334 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Gorman-Rupp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,153 shares of the industrial products company’s stock valued at $6,604,000 after acquiring an additional 1,266 shares in the last quarter. Needham Investment Management LLC lifted its position in shares of Gorman-Rupp by 218.8% in the 3rd quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company’s stock worth $4,966,000 after acquiring an additional 87,500 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Gorman-Rupp by 54.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company’s stock worth $2,861,000 after acquiring an additional 25,977 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Gorman-Rupp by 8.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 69,564 shares of the industrial products company’s stock valued at $2,638,000 after purchasing an additional 5,602 shares during the period. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Gorman-Rupp Price Performance

NYSE:GRC opened at $35.88 on Wednesday. The Gorman-Rupp Company has a 52 week low of $30.47 and a 52 week high of $43.79. 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 $941.06 million, a price-to-earnings ratio of 23.45, a PEG ratio of 1.54 and a beta of 0.94. The company has a 50-day moving average of $37.84 and a 200-day moving average of $38.78.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share 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 in the prior year, the business earned $0.34 earnings per share. As a group, equities research analysts anticipate 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 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 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) 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.