Nuveen Asset Management LLC Boosts Holdings in The Gorman-Rupp Company (NYSE:GRC)

Nuveen Asset Management LLC boosted its holdings in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 84,790 shares of the industrial products company's stock after acquiring an additional 15,362 shares during the period. Nuveen Asset Management LLC owned 0.32% of Gorman-Rupp worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Centricity Wealth Management LLC purchased a new position in shares of Gorman-Rupp during the 4th quarter worth about $38,000. Aquatic Capital Management LLC raised its holdings in Gorman-Rupp by 46.2% in the fourth quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock valued at $161,000 after buying an additional 1,339 shares during the period. Inceptionr LLC raised its holdings in Gorman-Rupp by 9.5% in the fourth quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock valued at $265,000 after buying an additional 609 shares during the period. Tower Research Capital LLC TRC raised its holdings in Gorman-Rupp by 880.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,047 shares of the industrial products company's stock valued at $267,000 after buying an additional 6,328 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in Gorman-Rupp by 390.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 7,401 shares of the industrial products company's stock valued at $281,000 after buying an additional 5,892 shares during the period. 59.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Gorman-Rupp Trading Down 0.7%

NYSE GRC traded down $0.27 during mid-day trading on Thursday, hitting $36.86. The company's stock had a trading volume of 44,978 shares, compared to its average volume of 77,246. The Gorman-Rupp Company has a 52-week low of $30.87 and a 52-week high of $43.79. The stock's fifty day simple moving average is $35.62 and its two-hundred day simple moving average is $37.61. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The firm has a market capitalization of $969.20 million, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.19.

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

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.185 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.01%. Gorman-Rupp's dividend payout ratio is currently 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.