Millennium Management LLC Purchases 12,308 Shares of The Gorman-Rupp Company (NYSE:GRC)

Millennium Management LLC lifted its position in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,904 shares of the industrial products company's stock after buying an additional 12,308 shares during the period. Millennium Management LLC owned about 0.66% of Gorman-Rupp worth $6,519,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 valued at $26,661,000 after buying an additional 38,191 shares in the last quarter. Deutsche Bank AG increased its stake in Gorman-Rupp by 56.3% in the 4th quarter. Deutsche Bank AG now owns 19,773 shares of the industrial products company's stock worth $750,000 after purchasing an additional 7,125 shares during the period. Cubist Systematic Strategies LLC increased its stake in Gorman-Rupp by 390.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 7,401 shares of the industrial products company's stock worth $281,000 after purchasing an additional 5,892 shares during the period. Balyasny Asset Management L.P. purchased a new position in Gorman-Rupp in the 4th quarter worth approximately $351,000. Finally, Bank of America Corp DE increased its stake in Gorman-Rupp by 19.7% in the 4th quarter. Bank of America Corp DE now owns 27,496 shares of the industrial products company's stock worth $1,043,000 after purchasing an additional 4,522 shares during the period. 59.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Gorman-Rupp Trading Down 0.4%

Shares of GRC stock traded down $0.15 during trading hours on Friday, reaching $36.52. The company's stock had a trading volume of 75,962 shares, compared to its average volume of 78,384. The stock has a market capitalization 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 Gorman-Rupp Company has a one year low of $30.87 and a one year high of $43.79. The firm's fifty day simple moving average is $35.53 and its 200 day simple moving average is $37.67. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99.

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 for the quarter, topping analysts' consensus estimates 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 return on equity of 12.79% and a net margin of 6.08%. Equities research analysts expect that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be given a $0.185 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.03%. 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.