Charles Schwab Investment Management Inc. Has $5.99 Million Stock Holdings in Gorman-Rupp Company (The) $GRC

Charles Schwab Investment Management Inc. cut its holdings in Gorman-Rupp Company (The) (NYSE:GRC) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,657 shares of the industrial products company’s stock after selling 3,496 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of Gorman-Rupp worth $5,990,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp bought a new stake in shares of Gorman-Rupp in the 1st quarter valued at about $45,000. Central Pacific Bank Trust Division acquired a new stake in Gorman-Rupp during the 1st quarter worth $53,000. Aquatic Capital Management LLC raised its stake in Gorman-Rupp by 46.2% during the 4th 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 period. Swisher Financial Concepts Inc. acquired a new stake in Gorman-Rupp during the 1st quarter worth $205,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Gorman-Rupp during the 1st quarter worth $221,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Stock Performance

Shares of Gorman-Rupp stock opened at $43.03 on Thursday. The company has a market capitalization of $1.13 billion, a PE ratio of 21.84, a PEG ratio of 1.64 and a beta of 1.21. Gorman-Rupp Company has a 12 month low of $30.87 and a 12 month high of $43.79. The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $39.49 and its 200 day simple moving average is $37.48.

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

Gorman-Rupp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $0.185 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.7%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 37.56%.

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.