Teacher Retirement System of Texas lowered its stake in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,319 shares of the industrial products company's stock after selling 7,266 shares during the period. Teacher Retirement System of Texas owned 0.09% of Gorman-Rupp worth $884,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Gorman-Rupp by 9.6% in the 4th 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 acquiring an additional 16,334 shares during the period. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $6,604,000 after purchasing an additional 1,266 shares during the period. Needham Investment Management LLC raised its stake in shares of Gorman-Rupp by 218.8% in the third quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company's stock worth $4,966,000 after purchasing an additional 87,500 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Gorman-Rupp by 54.7% during the third quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company's stock worth $2,861,000 after purchasing an additional 25,977 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Gorman-Rupp by 8.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 69,564 shares of the industrial products company's stock valued at $2,638,000 after buying an additional 5,602 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, StockNews.com raised shares of Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 25th.
View Our Latest Stock Analysis on Gorman-Rupp
Gorman-Rupp Stock Performance
NYSE:GRC traded up $0.34 during mid-day trading on Wednesday, hitting $36.27. The company's stock had a trading volume of 54,304 shares, compared to its average volume of 85,060. The business's fifty day moving average is $37.60 and its two-hundred day moving average is $38.73. The stock has a market cap of $951.29 million, a price-to-earnings ratio of 23.71, a PEG ratio of 1.54 and a beta of 0.94. 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 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 earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate 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 business earned $0.34 EPS. Analysts anticipate that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.
Gorman-Rupp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Friday, February 14th. Gorman-Rupp's dividend payout ratio is currently 48.37%.
Gorman-Rupp Profile
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Free Report)
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.
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