Grace & White Inc. NY Has $19.98 Million Holdings in Gorman-Rupp Company (The) $GRC

Grace & White Inc. NY cut its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,626 shares of the industrial products company’s stock after selling 12,831 shares during the period. Gorman-Rupp comprises approximately 3.5% of Grace & White Inc. NY’s investment portfolio, making the stock its 5th largest holding. Grace & White Inc. NY’s holdings in Gorman-Rupp were worth $19,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC raised its holdings in shares of Gorman-Rupp by 3.2% in the fourth quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 150 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Gorman-Rupp by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 163 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Gorman-Rupp by 0.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,370 shares of the industrial products company’s stock worth $2,166,000 after purchasing an additional 203 shares during the last quarter. D.A. Davidson & CO. grew its position in Gorman-Rupp by 3.5% in the 4th quarter. D.A. Davidson & CO. now owns 6,706 shares of the industrial products company’s stock worth $320,000 after purchasing an additional 229 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Gorman-Rupp by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,961 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

Shares of NYSE:GRC opened at $89.33 on Friday. The company’s 50-day moving average is $77.42 and its 200 day moving average is $64.76. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.76 and a current ratio of 2.93. The company has a market capitalization of $2.36 billion, a P/E ratio of 40.06, a price-to-earnings-growth ratio of 2.69 and a beta of 1.31. Gorman-Rupp Company has a fifty-two week low of $36.40 and a fifty-two week high of $91.38.

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. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The company had revenue of $176.59 million during the quarter, compared to analyst estimates of $170.61 million. On average, equities research analysts forecast that Gorman-Rupp Company will post 2.6 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, May 15th. Gorman-Rupp’s payout ratio is presently 34.08%.

Wall Street Analysts Forecast Growth

GRC has been the subject of several analyst reports. Weiss Ratings lowered shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Zacks Research downgraded Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Freedom Capital raised Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Finally, Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

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.