The Gorman-Rupp Company (NYSE:GRC) Position Boosted by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in The Gorman-Rupp Company (NYSE:GRC) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,363 shares of the industrial products company’s stock after purchasing an additional 2,538 shares during the quarter. Wells Fargo & Company MN owned 0.48% of Gorman-Rupp worth $4,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Gorman-Rupp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,205,019 shares of the industrial products company’s stock worth $83,614,000 after purchasing an additional 20,407 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Gorman-Rupp by 9.6% in the 4th 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 purchasing an additional 16,334 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Gorman-Rupp by 0.7% in 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. JPMorgan Chase & Co. boosted its position in Gorman-Rupp by 57.3% during the fourth quarter. JPMorgan Chase & Co. now owns 115,536 shares of the industrial products company’s stock worth $4,381,000 after purchasing an additional 42,082 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Gorman-Rupp by 8.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 69,564 shares of the industrial products company’s stock worth $2,638,000 after buying an additional 5,602 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Stock Down 0.0 %

GRC opened at $33.47 on Monday. The firm’s fifty day moving average price is $36.26 and its two-hundred day moving average price is $38.21. The company has a market capitalization of $877.75 million, a P/E ratio of 21.87, a P/E/G ratio of 1.54 and a beta of 1.05. The Gorman-Rupp Company has a fifty-two week low of $30.47 and a fifty-two week high of $43.79. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38.

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. On average, analysts anticipate that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

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