Vanguard Group Inc. Purchases 20,407 Shares of The Gorman-Rupp Company (NYSE:GRC)

Vanguard Group Inc. boosted its holdings in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,205,019 shares of the industrial products company's stock after purchasing an additional 20,407 shares during the quarter. Vanguard Group Inc. owned about 8.41% of Gorman-Rupp worth $83,614,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new stake in shares of Gorman-Rupp in the fourth quarter valued at approximately $38,000. Point72 Asset Management L.P. acquired a new position in Gorman-Rupp during the 3rd quarter valued at $62,000. Zacks Investment Management bought a new stake in Gorman-Rupp in the 3rd quarter valued at $235,000. Inceptionr LLC boosted its holdings in 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 period. Finally, Verition Fund Management LLC grew its position in Gorman-Rupp by 13.7% in 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 own 59.26% of the company's stock.

Gorman-Rupp Stock Performance

Shares of GRC stock traded up $0.31 during mid-day trading on Tuesday, reaching $33.81. The stock had a trading volume of 5,180 shares, compared to its average volume of 68,234. The Gorman-Rupp Company has a one year low of $30.47 and a one year high of $43.79. The firm has a market cap of $886.64 million, a PE ratio of 22.09, a P/E/G ratio of 1.54 and a beta of 1.05. The firm's 50 day simple moving average is $36.56 and its 200 day simple moving average is $38.35. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share 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 quarter last year, the company posted $0.34 EPS. On average, analysts forecast that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, February 14th. Gorman-Rupp's dividend payout ratio (DPR) is 48.37%.

Wall Street Analysts Forecast Growth

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.

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.