JPMorgan Chase & Co. Boosts Stock Position in Gorman-Rupp Company (The) $GRC

JPMorgan Chase & Co. lifted its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 43.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,990 shares of the industrial products company’s stock after buying an additional 20,522 shares during the quarter. JPMorgan Chase & Co.’s holdings in Gorman-Rupp were worth $3,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in Gorman-Rupp in the 3rd quarter worth $4,007,000. Gamco Investors INC. ET AL grew its position in shares of Gorman-Rupp by 6.9% in the second quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company’s stock valued at $21,775,000 after purchasing an additional 38,260 shares during the period. Victory Capital Management Inc. grew its position in shares of Gorman-Rupp by 2,664,700.0% in the third quarter. Victory Capital Management Inc. now owns 266,480 shares of the industrial products company’s stock valued at $12,367,000 after purchasing an additional 266,470 shares during the period. Teton Advisors LLC purchased a new stake in shares of Gorman-Rupp during the third quarter worth about $2,191,000. Finally, Ellsworth Advisors LLC acquired a new position in shares of Gorman-Rupp during the 3rd quarter worth about $841,000. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Performance

GRC opened at $62.54 on Friday. Gorman-Rupp Company has a twelve month low of $30.87 and a twelve month high of $68.02. The firm has a market capitalization of $1.65 billion, a PE ratio of 31.11, a PEG ratio of 2.07 and a beta of 1.26. The company has a current ratio of 2.37, a quick ratio of 1.39 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average price is $61.89 and its 200 day moving average price is $52.41.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. The company had revenue of $166.57 million during the quarter, compared to the consensus estimate of $167.08 million. As a group, sell-side analysts expect that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 13th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, February 13th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 37.81%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GRC. Weiss Ratings reiterated a “buy (b)” rating on shares of Gorman-Rupp in a report on Thursday, January 22nd. Wall Street Zen upgraded Gorman-Rupp from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

About Gorman-Rupp

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.