Geode Capital Management LLC Has $19.12 Million Stock Holdings in Gorman-Rupp Company (The) $GRC

Geode Capital Management LLC raised its stake in Gorman-Rupp Company (The) (NYSE:GRC) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 520,534 shares of the industrial products company’s stock after purchasing an additional 14,997 shares during the period. Geode Capital Management LLC owned 1.98% of Gorman-Rupp worth $19,117,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Gorman-Rupp by 7.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,061 shares of the industrial products company’s stock valued at $2,683,000 after buying an additional 5,114 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Gorman-Rupp by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 182,333 shares of the industrial products company’s stock valued at $6,695,000 after purchasing an additional 2,496 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Gorman-Rupp by 6.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 22,292 shares of the industrial products company’s stock valued at $819,000 after purchasing an additional 1,257 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Gorman-Rupp by 38.9% during the second quarter. Y Intercept Hong Kong Ltd now owns 9,123 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 2,553 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Gorman-Rupp by 2,963.7% during the 2nd quarter. AlphaQuest LLC now owns 17,034 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 16,478 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Stock Performance

NYSE:GRC opened at $46.49 on Monday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.71 and a beta of 1.24. Gorman-Rupp Company has a fifty-two week low of $30.87 and a fifty-two week high of $49.24. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.39 and a current ratio of 2.08. The stock has a fifty day moving average price of $45.70 and a 200-day moving average price of $41.65.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%.The company had revenue of $172.83 million during the quarter, compared to the consensus estimate of $174.61 million. As a group, equities analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, November 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.6%. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.19. Gorman-Rupp’s dividend payout ratio (DPR) is 39.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GRC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Gorman-Rupp has an average rating of “Buy”.

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.