Cambridge Investment Research Advisors Inc. Has $468,000 Stake in Gorman-Rupp Company (The) (NYSE:GRC)

Cambridge Investment Research Advisors Inc. lifted its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 8.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,329 shares of the industrial products company’s stock after purchasing an additional 1,093 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.05% of Gorman-Rupp worth $468,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Gorman-Rupp by 0.7% during 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. Fifth Third Bancorp bought a new stake in shares of Gorman-Rupp during the first quarter worth approximately $45,000. Price T Rowe Associates Inc. MD raised its stake in shares of Gorman-Rupp by 7.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,646 shares of the industrial products company’s stock worth $745,000 after buying an additional 1,301 shares during the last quarter. Aquatic Capital Management LLC raised its stake in shares of Gorman-Rupp by 46.2% during the fourth quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company’s stock worth $161,000 after buying an additional 1,339 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Gorman-Rupp during the first quarter worth approximately $53,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Trading Up 0.3%

GRC opened at $38.29 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.42 and a quick ratio of 1.35. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The firm has a 50 day simple moving average of $37.12 and a 200 day simple moving average of $36.83. Gorman-Rupp Company has a fifty-two week low of $30.87 and a fifty-two 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 for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Gorman-Rupp had a net margin of 6.68% and a return on equity of 13.57%. The business had revenue of $163.95 million during the quarter, compared to the consensus estimate of $164.84 million. On average, sell-side analysts anticipate that 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 was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, May 15th. Gorman-Rupp’s payout ratio is presently 43.79%.

Analyst Upgrades and Downgrades

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

Gorman-Rupp 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.