JPMorgan Chase & Co. Has $4.38 Million Holdings in The Gorman-Rupp Company (NYSE:GRC)

JPMorgan Chase & Co. raised its stake in shares of The Gorman-Rupp Company (NYSE:GRC) by 57.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 115,536 shares of the industrial products company’s stock after purchasing an additional 42,082 shares during the period. JPMorgan Chase & Co. owned approximately 0.44% of Gorman-Rupp worth $4,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRC. Centricity Wealth Management LLC purchased a new position in shares of Gorman-Rupp during the fourth quarter valued at approximately $38,000. Inceptionr LLC boosted its holdings in Gorman-Rupp by 9.5% during the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 609 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Gorman-Rupp in the 4th quarter worth $344,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Gorman-Rupp by 13.1% in the fourth 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 during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Gorman-Rupp during the third quarter valued at about $399,000. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Stock Performance

Shares of GRC opened at $33.47 on Friday. The stock has a 50 day moving average of $36.26 and a 200 day moving average of $38.21. 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 Gorman-Rupp Company has a 12 month low of $30.47 and a 12 month high of $43.79. The company has a market capitalization of $877.75 million, a price-to-earnings ratio of 21.87, a PEG ratio of 1.54 and a beta of 1.05.

Gorman-Rupp (NYSE:GRC) last announced its earnings results 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 net margin of 6.08% and a return on equity of 12.79%. During the same period in the previous year, the business earned $0.34 EPS. As a group, sell-side analysts forecast that The Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, February 14th. Gorman-Rupp’s payout ratio is 48.37%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note 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.