The Gorman-Rupp Company (NYSE:GRC) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 57.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,536 shares of the industrial products company's stock after buying an additional 42,082 shares during the period. JPMorgan Chase & Co. owned approximately 0.44% of Gorman-Rupp worth $4,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bailard Inc. grew its stake in shares of Gorman-Rupp by 2.5% during the fourth quarter. Bailard Inc. now owns 16,395 shares of the industrial products company's stock worth $622,000 after acquiring an additional 400 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Gorman-Rupp by 1.8% during the fourth quarter. Rhumbline Advisers now owns 31,320 shares of the industrial products company's stock worth $1,188,000 after buying an additional 548 shares during the period. Inceptionr LLC lifted its stake in shares of Gorman-Rupp by 9.5% during the fourth quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock worth $265,000 after buying an additional 609 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Gorman-Rupp by 8.6% during the fourth quarter. Principal Financial Group Inc. now owns 11,117 shares of the industrial products company's stock valued at $422,000 after buying an additional 884 shares during the last quarter. Finally, Centricity Wealth Management LLC acquired a new position in shares of Gorman-Rupp in the 4th quarter valued at $38,000. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 25th.

Gorman-Rupp Stock Performance

NYSE GRC traded up $1.34 on Thursday, hitting $34.68. 5,369 shares of the company's stock traded hands, compared to its average volume of 83,939. The firm's 50-day moving average price is $35.96 and its two-hundred day moving average price is $38.10. The firm has a market capitalization of $909.46 million, a PE ratio of 22.66, a P/E/G ratio of 1.54 and a beta of 1.05. 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 1-year low of $30.47 and a 1-year high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. As a group, analysts expect that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $0.185 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.74 annualized dividend and a yield of 2.13%. Gorman-Rupp's dividend payout ratio is presently 48.37%.

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.