Allspring Global Investments Holdings LLC Has $5.89 Million Stock Position in Gorman-Rupp Company (The) $GRC

Key Points

• Allspring Global Investments boosted its stake in Gorman-Rupp by 42.9% in Q4 to 123,382 shares, a holding worth about $5.89 million (roughly 0.47% of the company).
• Gorman-Rupp reported Q earnings of $0.55 per share, beating estimates by $0.12 while revenue came in roughly in line at $166.6 million; the stock has a market cap of about $1.65 billion and a trailing P/E of 31.2.
• The company pays a quarterly dividend of $0.19 (annualized yield ~1.2%, payout ratio 37.8%) and carries a consensus Wall Street rating of Buy, with Weiss Ratings recently reaffirming a buy view.

Allspring Global Investments Holdings LLC increased its position in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 42.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,382 shares of the industrial products company's stock after purchasing an additional 37,037 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.47% of Gorman-Rupp worth $5,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRC. SG Americas Securities LLC grew its position in shares of Gorman-Rupp by 8.5% during the 3rd quarter. SG Americas Securities LLC now owns 3,443 shares of the industrial products company's stock worth $160,000 after buying an additional 269 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Gorman-Rupp by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,961 shares of the industrial products company's stock worth $292,000 after buying an additional 276 shares during the period. Quantbot Technologies LP grew its position in shares of Gorman-Rupp by 14.4% during the 3rd quarter. Quantbot Technologies LP now owns 2,980 shares of the industrial products company's stock worth $138,000 after buying an additional 376 shares during the period. Jump Financial LLC grew its position in shares of Gorman-Rupp by 6.3% during the 2nd quarter. Jump Financial LLC now owns 6,440 shares of the industrial products company's stock worth $236,000 after buying an additional 379 shares during the period. Finally, CWM LLC grew its position in shares of Gorman-Rupp by 47.0% during the 3rd quarter. CWM LLC now owns 1,452 shares of the industrial products company's stock worth $67,000 after buying an additional 464 shares during the period. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Trading Up 0.3%

NYSE:GRC opened at $62.71 on Tuesday. Gorman-Rupp Company has a fifty-two week low of $30.87 and a fifty-two week high of $68.02. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.37 and a quick ratio of 1.39. The stock has a market capitalization of $1.65 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 2.07 and a beta of 1.26. The business's 50-day simple moving average is $62.10 and its 200-day simple moving average is $52.60.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.12. Gorman-Rupp had a return on equity of 14.06% and a net margin of 7.77%.The business had revenue of $166.57 million for the quarter, compared to analysts' expectations of $167.08 million. Sell-side analysts expect that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. Gorman-Rupp's dividend payout ratio is 37.81%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Gorman-Rupp in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy".

Gorman-Rupp 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.

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