Cubist Systematic Strategies LLC Grows Holdings in The Gorman-Rupp Company (NYSE:GRC)

Cubist Systematic Strategies LLC raised its position in The Gorman-Rupp Company (NYSE:GRC) by 390.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,401 shares of the industrial products company’s stock after purchasing an additional 5,892 shares during the period. Cubist Systematic Strategies LLC’s holdings in Gorman-Rupp were worth $281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GRC. JPMorgan Chase & Co. boosted its position in shares of Gorman-Rupp by 54.7% in the third quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company’s stock worth $2,861,000 after acquiring an additional 25,977 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Gorman-Rupp by 30.0% in the fourth quarter. SG Americas Securities LLC now owns 14,001 shares of the industrial products company’s stock worth $531,000 after acquiring an additional 3,234 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Gorman-Rupp by 91.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 24,711 shares of the industrial products company’s stock worth $937,000 after acquiring an additional 11,827 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Gorman-Rupp in the fourth quarter worth approximately $935,000. Finally, Rhumbline Advisers boosted its position in shares of Gorman-Rupp by 1.8% in the fourth quarter. Rhumbline Advisers now owns 31,320 shares of the industrial products company’s stock worth $1,188,000 after acquiring an additional 548 shares during the last quarter. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th.

Gorman-Rupp Price Performance

GRC opened at $38.78 on Friday. The stock has a market capitalization of $1.02 billion, a PE ratio of 25.34, a P/E/G ratio of 1.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The Gorman-Rupp Company has a 1 year low of $30.87 and a 1 year high of $43.79. The company’s 50 day simple moving average is $35.50 and its 200 day simple moving average is $37.93.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $163.95 million for the quarter, compared to analysts’ expectations of $164.84 million. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. As a group, sell-side analysts expect that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.91%. Gorman-Rupp’s dividend payout ratio (DPR) is 43.79%.

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.