Ancora Advisors LLC Trims Position in The Gorman-Rupp Company (NYSE:GRC)

Ancora Advisors LLC lessened its holdings in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,260 shares of the industrial products company's stock after selling 9,280 shares during the period. Ancora Advisors LLC owned approximately 0.27% of Gorman-Rupp worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GRC. Barclays PLC raised its holdings in Gorman-Rupp by 317.9% in the 3rd quarter. Barclays PLC now owns 34,777 shares of the industrial products company's stock valued at $1,355,000 after acquiring an additional 26,455 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Gorman-Rupp in the 3rd quarter worth $399,000. JPMorgan Chase & Co. grew its holdings 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 valued at $2,861,000 after purchasing an additional 25,977 shares during the period. SG Americas Securities LLC raised its stake in Gorman-Rupp by 30.0% during the fourth 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 period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Gorman-Rupp by 91.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,711 shares of the industrial products company's stock valued at $937,000 after buying an additional 11,827 shares during the period. Hedge funds and other institutional investors own 59.26% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th.

Gorman-Rupp Stock Up 0.1 %

NYSE GRC traded up $0.05 during trading hours on Wednesday, hitting $36.68. 52,322 shares of the company were exchanged, compared to its average volume of 80,971. The company has a 50 day moving average of $35.42 and a two-hundred day moving average of $37.91. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The firm has a market cap of $964.46 million, a price-to-earnings ratio of 23.97, a PEG ratio of 1.54 and a beta of 1.20. The Gorman-Rupp Company has a 52-week low of $30.87 and a 52-week high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its earnings results on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. The business had revenue of $163.95 million for the quarter, compared to analysts' expectations of $164.84 million. Equities research analysts anticipate that The Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently announced 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. This represents a $0.74 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, May 15th. Gorman-Rupp's payout ratio 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.