Corebridge Financial Inc. Has $395,000 Holdings in The Gorman-Rupp Company (NYSE:GRC)

Corebridge Financial Inc. trimmed its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 7.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,421 shares of the industrial products company’s stock after selling 786 shares during the period. Corebridge Financial Inc.’s holdings in Gorman-Rupp were worth $395,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in Gorman-Rupp by 317.9% during the 3rd quarter. Barclays PLC now owns 34,777 shares of the industrial products company’s stock valued at $1,355,000 after acquiring an additional 26,455 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Gorman-Rupp by 91.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,711 shares of the industrial products company’s stock valued at $937,000 after purchasing an additional 11,827 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in Gorman-Rupp in the 4th quarter worth approximately $935,000. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Gorman-Rupp by 81.8% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 16,216 shares of the industrial products company’s stock valued at $615,000 after buying an additional 7,294 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Gorman-Rupp during the 3rd quarter valued at $399,000. 59.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Gorman-Rupp Stock Performance

NYSE:GRC opened at $34.27 on Thursday. The firm has a market capitalization of $898.83 million, a PE ratio of 22.40, a PEG ratio of 1.54 and a beta of 1.05. The Gorman-Rupp Company has a 1 year low of $30.47 and a 1 year high of $43.79. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The firm’s fifty day simple moving average is $36.84 and its 200 day simple moving average is $38.46.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same quarter last year, the company posted $0.34 earnings per share. On average, sell-side analysts anticipate that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, February 14th. Gorman-Rupp’s payout ratio is presently 48.37%.

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.