Barclays PLC Buys 2,858 Shares of The Gorman-Rupp Company (NYSE:GRC)

Barclays PLC boosted its stake in The Gorman-Rupp Company (NYSE:GRC) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,635 shares of the industrial products company’s stock after purchasing an additional 2,858 shares during the quarter. Barclays PLC owned about 0.14% of Gorman-Rupp worth $1,427,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Aurora Investment Counsel bought a new stake in shares of Gorman-Rupp in the 4th quarter valued at about $2,083,000. JPMorgan Chase & Co. increased its stake in Gorman-Rupp by 57.3% in the fourth quarter. JPMorgan Chase & Co. now owns 115,536 shares of the industrial products company’s stock valued at $4,381,000 after purchasing an additional 42,082 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Gorman-Rupp in the fourth quarter worth $1,100,000. Vontobel Holding Ltd. bought a new position in shares of Gorman-Rupp during the fourth quarter worth $935,000. Finally, Vanguard Group Inc. grew its holdings in shares of 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 valued at $83,614,000 after buying an additional 20,407 shares during the period. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Trading Up 2.6 %

NYSE:GRC opened at $36.83 on Friday. The business’s 50-day simple moving average is $35.51 and its 200-day simple moving average is $37.95. The Gorman-Rupp Company has a fifty-two week low of $30.87 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. The stock has a market capitalization of $965.98 million, a PE ratio of 24.07, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. The company had revenue of $163.95 million during the quarter, compared to analysts’ expectations of $164.84 million. Sell-side analysts expect that The Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, May 15th. Gorman-Rupp’s dividend payout ratio is 43.79%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th.

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.