Cooke & Bieler LP Sells 9,700 Shares of The Gorman-Rupp Company (NYSE:GRC)

Cooke & Bieler LP lessened its position in The Gorman-Rupp Company (NYSE:GRC) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 561,160 shares of the industrial products company’s stock after selling 9,700 shares during the period. Cooke & Bieler LP owned 2.14% of Gorman-Rupp worth $19,938,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GRC. Morgan Stanley grew its holdings in Gorman-Rupp by 91.8% in the 4th quarter. Morgan Stanley now owns 273,704 shares of the industrial products company’s stock worth $7,012,000 after acquiring an additional 130,978 shares during the last quarter. Eaton Vance Management bought a new stake in shares of Gorman-Rupp during the 1st quarter valued at about $4,252,000. BlackRock Inc. boosted its stake in shares of Gorman-Rupp by 7.8% during the 2nd quarter. BlackRock Inc. now owns 1,604,425 shares of the industrial products company’s stock valued at $46,256,000 after purchasing an additional 116,189 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of Gorman-Rupp by 290.3% during the 3rd quarter. Citadel Advisors LLC now owns 96,980 shares of the industrial products company’s stock valued at $2,307,000 after purchasing an additional 72,135 shares in the last quarter. Finally, Ancora Advisors LLC boosted its stake in shares of Gorman-Rupp by 82.6% during the 4th quarter. Ancora Advisors LLC now owns 140,110 shares of the industrial products company’s stock valued at $3,590,000 after purchasing an additional 63,389 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Trading Down 0.1 %

Shares of GRC traded down $0.02 during trading hours on Friday, reaching $36.02. 200,357 shares of the company traded hands, compared to its average volume of 54,867. The company’s fifty day moving average price is $37.43 and its two-hundred day moving average price is $34.40. The company has a market capitalization of $944.44 million, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. The company has a quick ratio of 1.31, a current ratio of 2.35 and a debt-to-equity ratio of 1.09. The Gorman-Rupp Company has a 12 month low of $23.22 and a 12 month high of $40.00.

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, February 2nd. The industrial products company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. Gorman-Rupp had a net margin of 5.30% and a return on equity of 10.47%. The firm had revenue of $160.57 million for the quarter, compared to analyst estimates of $155.88 million. During the same quarter in the previous year, the firm posted $0.11 EPS. Equities research analysts predict that The Gorman-Rupp Company will post 1.58 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.00%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 54.14%.

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.