MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Position in The Gorman-Rupp Company (NYSE:GRC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 703,077 shares of the industrial products company's stock after purchasing an additional 38,191 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.68% of Gorman-Rupp worth $26,661,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Gorman-Rupp by 54.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company's stock valued at $2,861,000 after purchasing an additional 25,977 shares during the last quarter. SG Americas Securities LLC lifted its position in Gorman-Rupp by 30.0% in the fourth quarter. SG Americas Securities LLC now owns 14,001 shares of the industrial products company's stock valued at $531,000 after buying an additional 3,234 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Gorman-Rupp by 91.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,711 shares of the industrial products company's stock worth $937,000 after buying an additional 11,827 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Gorman-Rupp during the fourth quarter valued at about $935,000. Finally, Rhumbline Advisers raised 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 acquiring an additional 548 shares during the period. Hedge funds and other institutional investors own 59.26% of the company's stock.

Gorman-Rupp Trading Down 1.1%

NYSE:GRC traded down $0.44 during trading hours on Tuesday, reaching $38.19. 5,179 shares of the stock were exchanged, compared to its average volume of 68,392. The Gorman-Rupp Company has a twelve month low of $30.87 and a twelve month high of $43.79. The business has a 50-day moving average of $35.51 and a two-hundred day moving average of $37.94. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 24.96, a PEG 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 posted 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 firm had revenue of $163.95 million for the quarter, compared to the consensus estimate of $164.84 million. On average, equities analysts predict that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, May 15th. This represents a $0.74 annualized dividend and a dividend yield of 1.94%. Gorman-Rupp's dividend payout ratio is presently 43.79%.

Wall Street Analysts Forecast Growth

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

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.