Legal & General Group Plc Has $10.53 Million Stock Position in The Gorman-Rupp Company (NYSE:GRC)

Legal & General Group Plc cut its holdings in shares of The Gorman-Rupp Company (NYSE:GRC) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 277,891 shares of the industrial products company’s stock after selling 3,015 shares during the period. Legal & General Group Plc’s holdings in Gorman-Rupp were worth $10,529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. FMR LLC lifted its holdings in Gorman-Rupp by 70.1% in the third quarter. FMR LLC now owns 19,679 shares of the industrial products company’s stock valued at $766,000 after buying an additional 8,112 shares during the period. Barclays PLC grew its holdings in Gorman-Rupp by 317.9% during the 3rd quarter. Barclays PLC now owns 34,777 shares of the industrial products company’s stock worth $1,355,000 after acquiring an additional 26,455 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Gorman-Rupp during the 3rd quarter valued at $399,000. JPMorgan Chase & Co. lifted its stake in shares of Gorman-Rupp by 54.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company’s stock valued at $2,861,000 after purchasing an additional 25,977 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Gorman-Rupp by 30.0% in the 4th quarter. SG Americas Securities LLC now owns 14,001 shares of the industrial products company’s stock worth $531,000 after purchasing an additional 3,234 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 25th.

Gorman-Rupp Stock Performance

Shares of NYSE:GRC opened at $33.53 on Thursday. The firm’s 50 day simple moving average is $36.41 and its 200 day simple moving average is $38.29. The Gorman-Rupp Company has a fifty-two week low of $30.47 and a fifty-two week high of $43.79. The company has a market capitalization of $879.42 million, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 business earned $0.34 earnings per share. As a group, sell-side analysts forecast that The Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $0.185 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.74 dividend on an annualized basis and a yield of 2.21%. Gorman-Rupp’s payout ratio is 48.37%.

About Gorman-Rupp

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.