Fisher Asset Management LLC Lowers Stake in The Gorman-Rupp Company (NYSE:GRC)

Fisher Asset Management LLC lessened its holdings in The Gorman-Rupp Company (NYSE:GRC) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,795 shares of the industrial products company’s stock after selling 7,649 shares during the period. Fisher Asset Management LLC owned about 0.16% of Gorman-Rupp worth $1,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Global Retirement Partners LLC increased its position in shares of Gorman-Rupp by 92.2% in the fourth quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company’s stock valued at $88,000 after buying an additional 1,298 shares in the last quarter. Jump Financial LLC purchased a new stake in Gorman-Rupp in the 3rd quarter worth $217,000. Arizona State Retirement System acquired a new position in Gorman-Rupp during the third quarter worth $221,000. State Board of Administration of Florida Retirement System purchased a new position in Gorman-Rupp during the third quarter valued at $244,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Gorman-Rupp by 7.1% in the third quarter. Commonwealth Equity Services LLC now owns 8,794 shares of the industrial products company’s stock valued at $289,000 after purchasing an additional 586 shares during the period. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Stock Down 0.7 %

GRC stock opened at $32.61 on Thursday. The stock has a market capitalization of $854.71 million, a P/E ratio of 23.63, a P/E/G ratio of 1.62 and a beta of 0.97. The Gorman-Rupp Company has a 52 week low of $23.62 and a 52 week high of $40.00. The firm has a 50-day simple moving average of $36.59 and a 200-day simple moving average of $34.56. The company has a quick ratio of 1.33, a current ratio of 2.32 and a debt-to-equity ratio of 1.06.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The firm had revenue of $159.27 million for the quarter, compared to analyst estimates of $168.49 million. Gorman-Rupp had a net margin of 5.52% and a return on equity of 10.54%. Equities analysts forecast that The Gorman-Rupp Company will post 1.55 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.72 annualized dividend and a yield of 2.21%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 52.17%.

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.