Cooke & Bieler LP Buys 37,738 Shares of Gorman-Rupp Company (The) (NYSE:GRC)

Cooke & Bieler LP grew its position in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 481,965 shares of the industrial products company's stock after acquiring an additional 37,738 shares during the period. Cooke & Bieler LP owned about 1.84% of Gorman-Rupp worth $16,917,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp bought a new position in Gorman-Rupp during the first quarter worth about $45,000. Central Pacific Bank Trust Division bought a new position in shares of Gorman-Rupp during the 1st quarter worth approximately $53,000. Aquatic Capital Management LLC boosted its stake in shares of Gorman-Rupp by 46.2% during the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock worth $161,000 after acquiring an additional 1,339 shares during the period. Swisher Financial Concepts Inc. acquired a new position in shares of Gorman-Rupp during the 1st quarter worth approximately $205,000. Finally, GAMMA Investing LLC raised its stake in Gorman-Rupp by 4,451.0% in the 1st quarter. GAMMA Investing LLC now owns 6,599 shares of the industrial products company's stock valued at $232,000 after acquiring an additional 6,454 shares during the period. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Stock Performance

Shares of NYSE GRC traded down $0.25 during mid-day trading on Friday, reaching $37.21. 56,233 shares of the company were exchanged, compared to its average volume of 69,493. The stock has a market capitalization of $978.25 million, a P/E ratio of 22.02, a P/E/G ratio of 1.45 and a beta of 1.17. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.87. The company's 50-day simple moving average is $37.16 and its 200-day simple moving average is $36.78. Gorman-Rupp Company has a twelve month low of $30.87 and a twelve month high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. Gorman-Rupp had a net margin of 6.68% and a return on equity of 13.57%. The firm had revenue of $163.95 million during the quarter, compared to the consensus estimate of $164.84 million. As a group, research analysts predict that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, May 15th. Gorman-Rupp's dividend payout ratio is 43.79%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th.

About Gorman-Rupp

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.