Mackenzie Financial Corp Grows Holdings in Gorman-Rupp Company (The) (NYSE:GRC)

Mackenzie Financial Corp lifted its position in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 18.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,107 shares of the industrial products company’s stock after acquiring an additional 2,836 shares during the quarter. Mackenzie Financial Corp owned 0.07% of Gorman-Rupp worth $636,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. American Century Companies Inc. raised its holdings in Gorman-Rupp by 10.8% in the 4th quarter. American Century Companies Inc. now owns 42,455 shares of the industrial products company’s stock worth $1,610,000 after purchasing an additional 4,155 shares during the period. LPL Financial LLC raised its stake in shares of Gorman-Rupp by 13.0% during the 4th quarter. LPL Financial LLC now owns 18,608 shares of the industrial products company’s stock worth $706,000 after buying an additional 2,146 shares during the period. Vanguard Group Inc. raised its stake in shares of Gorman-Rupp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,205,019 shares of the industrial products company’s stock worth $83,614,000 after buying an additional 20,407 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Gorman-Rupp by 57.3% during the 4th quarter. JPMorgan Chase & Co. now owns 115,536 shares of the industrial products company’s stock valued at $4,381,000 after buying an additional 42,082 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Gorman-Rupp by 24.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,729 shares of the industrial products company’s stock valued at $483,000 after acquiring an additional 2,464 shares during the period. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Stock Down 2.3%

GRC opened at $41.94 on Thursday. The company has a market cap of $1.10 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 1.62 and a beta of 1.21. Gorman-Rupp Company has a twelve month low of $30.87 and a twelve month high of $43.79. The company has a 50-day moving average price of $37.85 and a 200 day moving average price of $37.07. The company has a quick ratio of 1.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.80.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, July 25th. The industrial products company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $179.05 million during the quarter, compared to analyst estimates of $174.60 million. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%. Sell-side analysts expect that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 15th. Gorman-Rupp’s dividend payout ratio is currently 37.56%.

Wall Street Analyst Weigh In

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