The Gorman-Rupp Company (NYSE:GRC) Shares Purchased by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. increased its stake in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 81.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,216 shares of the industrial products company's stock after purchasing an additional 7,294 shares during the period. Pinnacle Wealth Planning Services Inc. owned approximately 0.06% of Gorman-Rupp worth $615,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Gorman-Rupp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,205,019 shares of the industrial products company's stock worth $83,614,000 after buying an additional 20,407 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gorman-Rupp by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,345,454 shares of the industrial products company's stock worth $51,020,000 after buying an additional 3,574 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Gorman-Rupp by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 703,077 shares of the industrial products company's stock worth $26,661,000 after buying an additional 38,191 shares in the last quarter. Northern Trust Corp lifted its holdings in Gorman-Rupp by 11.6% during the 4th quarter. Northern Trust Corp now owns 223,192 shares of the industrial products company's stock worth $8,463,000 after buying an additional 23,158 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Gorman-Rupp by 9.6% during the 4th quarter. Bank of New York Mellon Corp now owns 185,956 shares of the industrial products company's stock worth $7,051,000 after buying an additional 16,334 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company's stock.

Wall Street Analysts Forecast Growth

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 Stock Down 0.4%

Gorman-Rupp stock traded down $0.15 during mid-day trading on Friday, reaching $36.52. 75,962 shares of the company's stock were exchanged, compared to its average volume of 78,384. The Gorman-Rupp Company has a twelve month low of $30.87 and a twelve month high of $43.79. The company has a fifty day moving average of $35.53 and a 200-day moving average of $37.70. The company has a market cap of $960.26 million, a P/E ratio of 23.87, a P/E/G ratio of 1.54 and a beta of 1.20. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.02. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. The business had revenue of $163.95 million for the quarter, compared to analyst estimates of $164.84 million. Sell-side 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 issued a $0.185 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.03%. 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.