MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Gorman-Rupp Company (The) $GRC

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 7.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 756,083 shares of the industrial products company's stock after acquiring an additional 53,006 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.88% of Gorman-Rupp worth $26,540,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp purchased a new stake in shares of Gorman-Rupp during the first quarter worth $45,000. Central Pacific Bank Trust Division purchased a new stake in shares of Gorman-Rupp during the first quarter worth $53,000. Quantbot Technologies LP grew its holdings in shares of Gorman-Rupp by 42.3% during the first quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company's stock worth $106,000 after buying an additional 896 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Gorman-Rupp during the first quarter worth $203,000. Finally, Swisher Financial Concepts Inc. purchased a new stake in shares of Gorman-Rupp during the first quarter worth $205,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Price Performance

Shares of Gorman-Rupp stock traded down $1.04 during trading hours on Friday, reaching $42.85. 52,112 shares of the company's stock were exchanged, compared to its average volume of 60,067. Gorman-Rupp Company has a 1 year low of $30.87 and a 1 year high of $43.98. The company has a market capitalization of $1.13 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The business has a fifty day moving average of $40.88 and a two-hundred day moving average of $37.83. The company has a quick ratio of 1.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.80.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.05. Gorman-Rupp had a net margin of 7.69% and a return on equity of 13.63%. The firm had revenue of $179.05 million during the quarter, compared to analyst estimates of $174.60 million. As a group, research analysts predict that Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.185 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.7%. Gorman-Rupp's dividend payout ratio is currently 37.56%.

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.