Cooke & Bieler LP Sells 110,910 Shares of Gorman-Rupp Company (The) $GRC

Cooke & Bieler LP lessened its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 36.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,203 shares of the industrial products company’s stock after selling 110,910 shares during the quarter. Cooke & Bieler LP’s holdings in Gorman-Rupp were worth $9,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRC. Victory Capital Management Inc. increased its stake in Gorman-Rupp by 2,664,700.0% during the 3rd 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 in the last quarter. Teton Advisors LLC bought a new stake in shares of Gorman-Rupp in the 3rd quarter worth $2,191,000. Allspring Global Investments Holdings LLC grew its stake in shares of Gorman-Rupp by 42.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 123,382 shares of the industrial products company’s stock worth $5,891,000 after acquiring an additional 37,037 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Gorman-Rupp by 203.0% in the 1st quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock worth $1,702,000 after acquiring an additional 32,494 shares in the last quarter. Finally, Man Group plc grew its stake in shares of Gorman-Rupp by 51.6% in the 2nd quarter. Man Group plc now owns 81,212 shares of the industrial products company’s stock worth $2,982,000 after acquiring an additional 27,630 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

GRC opened at $72.67 on Tuesday. The firm has a market cap of $1.92 billion, a P/E ratio of 32.59, a PEG ratio of 2.15 and a beta of 1.34. The firm has a 50-day moving average of $68.71 and a 200 day moving average of $58.72. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.76 and a current ratio of 2.93. Gorman-Rupp Company has a fifty-two week low of $34.96 and a fifty-two week high of $79.54.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.19. The company had revenue of $176.59 million during the quarter, compared to analyst estimates of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. On average, research analysts expect that Gorman-Rupp Company will post 2.6 EPS for the current year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, May 15th. This represents a $0.76 annualized dividend and a yield of 1.0%. Gorman-Rupp’s dividend payout ratio is presently 34.08%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Weiss Ratings lowered shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Freedom Capital upgraded shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gorman-Rupp presently has a consensus 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.