The Gorman-Rupp Company (NYSE:GRC) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 150.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,271 shares of the industrial products company's stock after acquiring an additional 9,172 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Gorman-Rupp worth $579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bailard Inc. boosted its stake in shares of Gorman-Rupp by 2.5% in the 4th quarter. Bailard Inc. now owns 16,395 shares of the industrial products company's stock valued at $622,000 after buying an additional 400 shares during the period. Rhumbline Advisers boosted its stake in shares of Gorman-Rupp by 1.8% in the 4th quarter. Rhumbline Advisers now owns 31,320 shares of the industrial products company's stock valued at $1,188,000 after buying an additional 548 shares during the period. Inceptionr LLC boosted its stake in shares of Gorman-Rupp by 9.5% in the 4th 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. Principal Financial Group Inc. boosted its stake in shares of Gorman-Rupp by 8.6% in the 4th quarter. Principal Financial Group Inc. now owns 11,117 shares of the industrial products company's stock valued at $422,000 after buying an additional 884 shares during the period. Finally, Centricity Wealth Management LLC purchased a new position in shares of Gorman-Rupp in the 4th quarter valued at about $38,000. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Gorman-Rupp Stock Up 0.7%

Shares of GRC traded up $0.27 during midday trading on Friday, hitting $37.16. The company had a trading volume of 33,700 shares, compared to its average volume of 76,894. The company's 50-day simple moving average is $35.65 and its 200-day simple moving average is $37.59. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The firm has a market capitalization of $977.14 million, a P/E ratio of 24.29, a P/E/G ratio of 1.54 and a beta of 1.19. The Gorman-Rupp Company has a 1 year low of $30.87 and a 1 year high of $43.79.

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 (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. The business had revenue of $163.95 million during the quarter, compared to analysts' expectations of $164.84 million. As a group, sell-side analysts expect that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 15th. Gorman-Rupp's dividend payout ratio (DPR) is presently 43.79%.

Analyst Ratings Changes

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

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.