The Gorman-Rupp Company (NYSE:GRC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in The Gorman-Rupp Company (NYSE:GRC) by 15.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 40,795 shares of the industrial products company’s stock after selling 7,649 shares during the quarter. Fisher Asset Management LLC’s holdings in Gorman-Rupp were worth $1,449,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ancora Advisors LLC boosted its stake in shares of Gorman-Rupp by 0.3% during the 3rd quarter. Ancora Advisors LLC now owns 140,960 shares of the industrial products company’s stock worth $4,638,000 after acquiring an additional 360 shares in the last quarter. Swiss National Bank boosted its position in Gorman-Rupp by 1.0% during the third quarter. Swiss National Bank now owns 51,847 shares of the industrial products company’s stock worth $1,706,000 after purchasing an additional 500 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in Gorman-Rupp by 0.9% during the third quarter. Johnson Investment Counsel Inc. now owns 56,965 shares of the industrial products company’s stock worth $1,874,000 after purchasing an additional 520 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Gorman-Rupp by 7.1% in the third quarter. Commonwealth Equity Services LLC now owns 8,794 shares of the industrial products company’s stock valued at $289,000 after buying an additional 586 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Gorman-Rupp by 8.0% during the 4th quarter. New York State Common Retirement Fund now owns 8,998 shares of the industrial products company’s stock worth $320,000 after buying an additional 664 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

Gorman-Rupp stock opened at $32.61 on Thursday. The company has a quick ratio of 1.33, a current ratio of 2.32 and a debt-to-equity ratio of 1.06. The firm’s 50-day simple moving average is $36.59 and its 200 day simple moving average is $34.56. The Gorman-Rupp Company has a 52 week low of $23.62 and a 52 week high of $40.00. The firm has a market capitalization of $854.71 million, a PE ratio of 23.63, a P/E/G ratio of 1.62 and a beta of 0.97.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). Gorman-Rupp had a net margin of 5.52% and a return on equity of 10.54%. The business had revenue of $159.27 million during the quarter, compared to analyst estimates of $168.49 million. On average, equities research analysts predict that The Gorman-Rupp Company will post 1.55 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.21%. Gorman-Rupp’s dividend payout ratio is currently 52.17%.

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.