Connor Clark & Lunn Investment Management Ltd. Invests $9.21 Million in Gorman-Rupp Company (The) $GRC

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Gorman-Rupp Company (The) (NYSE:GRC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 100,385 shares of the industrial products company’s stock, valued at approximately $9,209,000.

Other large investors have also recently made changes to their positions in the company. Globeflex Capital L P acquired a new stake in Gorman-Rupp during the second quarter valued at $350,000. Northwestern Mutual Wealth Management Co. purchased a new position in Gorman-Rupp in the second quarter valued at $28,000. Quantbot Technologies LP purchased a new position in Gorman-Rupp in the second quarter valued at $306,000. EP Wealth Advisors LLC acquired a new position in shares of Gorman-Rupp in the second quarter worth about $410,000. Finally, Chancellor Financial Group WB LP acquired a new position in shares of Gorman-Rupp in the second quarter worth about $459,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GRC has been the topic of a number of analyst reports. Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Zacks Research lowered Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Monday. Wall Street Zen cut Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Gorman-Rupp currently has a consensus rating of “Hold”.

Gorman-Rupp Price Performance

Shares of NYSE GRC opened at $77.57 on Thursday. The firm has a market cap of $2.05 billion, a PE ratio of 32.73, a PEG ratio of 2.21 and a beta of 1.29. The firm has a fifty day moving average of $82.31 and a 200 day moving average of $74.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81. Gorman-Rupp Company has a one year low of $41.85 and a one year high of $92.78.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $186.07 million during the quarter, compared to analysts’ expectations of $188.89 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. As a group, research analysts predict that Gorman-Rupp Company will post 2.67 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. Gorman-Rupp’s payout ratio is currently 32.07%.

Gorman-Rupp Company Profile

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.