KLP Kapitalforvaltning AS Takes Position in The Gorman-Rupp Company (NYSE:GRC)

KLP Kapitalforvaltning AS acquired a new stake in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 17,400 shares of the industrial products company's stock, valued at approximately $660,000. KLP Kapitalforvaltning AS owned about 0.07% of Gorman-Rupp at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GRC. Bailard Inc. raised its stake in Gorman-Rupp by 2.5% in the fourth quarter. Bailard Inc. now owns 16,395 shares of the industrial products company's stock valued at $622,000 after buying an additional 400 shares during the last quarter. Rhumbline Advisers increased its holdings 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 valued at $1,188,000 after acquiring an additional 548 shares in the last quarter. Inceptionr LLC raised its position in shares of Gorman-Rupp by 9.5% in the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock valued at $265,000 after purchasing an additional 609 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Gorman-Rupp by 2.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,666 shares of the industrial products company's stock worth $1,584,000 after purchasing an additional 830 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in Gorman-Rupp by 13.7% during the 3rd quarter. Verition Fund Management LLC now owns 7,145 shares of the industrial products company's stock worth $278,000 after purchasing an additional 860 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

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

Gorman-Rupp Stock Performance

GRC traded down $2.31 on Thursday, reaching $33.87. 79,394 shares of the stock were exchanged, compared to its average volume of 84,957. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The company's 50-day moving average price is $37.52 and its 200 day moving average price is $38.70. The firm has a market capitalization of $888.34 million, a PE ratio of 22.14, a PEG ratio of 1.54 and a beta of 0.94. The Gorman-Rupp Company has a fifty-two week low of $30.47 and a fifty-two week high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same period last year, the company posted $0.34 EPS. As a group, sell-side analysts forecast that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, February 14th. Gorman-Rupp's dividend payout ratio (DPR) is currently 48.37%.

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.