The Gorman-Rupp Company (NYSE:GRC) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in The Gorman-Rupp Company (NYSE:GRC) by 5.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 703,077 shares of the industrial products company’s stock after buying an additional 38,191 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Gorman-Rupp were worth $26,661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Gorman-Rupp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,205,019 shares of the industrial products company’s stock valued at $83,614,000 after acquiring an additional 20,407 shares during the period. Dimensional Fund Advisors LP grew its stake in Gorman-Rupp by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,345,454 shares of the industrial products company’s stock valued at $51,020,000 after purchasing an additional 3,574 shares during the last quarter. Northern Trust Corp grew its stake in Gorman-Rupp by 11.6% during the 4th quarter. Northern Trust Corp now owns 223,192 shares of the industrial products company’s stock valued at $8,463,000 after purchasing an additional 23,158 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Gorman-Rupp by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 185,956 shares of the industrial products company’s stock valued at $7,051,000 after purchasing an additional 16,334 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Gorman-Rupp by 0.7% in 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 purchasing an additional 1,266 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Stock Performance

Shares of NYSE GRC opened at $38.68 on Thursday. The company has a 50 day simple moving average of $35.45 and a two-hundred day simple moving average of $37.92. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.54 and a beta of 1.20. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The Gorman-Rupp Company has a 12 month low of $30.87 and a 12 month high of $43.79.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $164.84 million. As a group, analysts predict that The Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.91%. Gorman-Rupp’s payout ratio is 43.79%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th.

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.