BNP Paribas Financial Markets Sells 3,440 Shares of The Gorman-Rupp Company (NYSE:GRC)

BNP Paribas Financial Markets trimmed its stake in shares of The Gorman-Rupp Company (NYSE:GRC) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,025 shares of the industrial products company’s stock after selling 3,440 shares during the period. BNP Paribas Financial Markets owned approximately 0.06% of Gorman-Rupp worth $646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. 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 buying an additional 11,827 shares during the period. Vontobel Holding Ltd. bought a new position in Gorman-Rupp during the fourth quarter valued at $935,000. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Gorman-Rupp by 81.8% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 16,216 shares of the industrial products company’s stock valued at $615,000 after acquiring an additional 7,294 shares during the period. Aurora Investment Counsel purchased a new position in Gorman-Rupp in the 4th quarter worth about $2,083,000. Finally, Raymond James Financial Inc. purchased a new position in Gorman-Rupp in the 4th quarter worth about $1,100,000. 59.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th.

Gorman-Rupp Stock Down 1.1%

GRC stock opened at $36.12 on Friday. The firm has a 50 day moving average of $35.49 and a 200 day moving average of $37.91. The stock has a market capitalization of $949.69 million, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The Gorman-Rupp Company has a 52 week low of $30.87 and a 52 week high of $43.79.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $164.84 million. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, May 15th. Gorman-Rupp’s dividend payout ratio (DPR) is 43.79%.

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.