Needham Investment Management LLC Has $5.25 Million Position in The Gorman-Rupp Company (NYSE:GRC)

Needham Investment Management LLC lifted its holdings in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,500 shares of the industrial products company's stock after purchasing an additional 11,000 shares during the quarter. Needham Investment Management LLC owned approximately 0.53% of Gorman-Rupp worth $5,252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC grew its position in Gorman-Rupp by 317.9% in the 3rd quarter. Barclays PLC now owns 34,777 shares of the industrial products company's stock worth $1,355,000 after purchasing an additional 26,455 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Gorman-Rupp by 91.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 24,711 shares of the industrial products company's stock worth $937,000 after acquiring an additional 11,827 shares during the period. Vontobel Holding Ltd. bought a new position in shares of Gorman-Rupp during the 4th quarter worth about $935,000. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Gorman-Rupp by 81.8% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 16,216 shares of the industrial products company's stock worth $615,000 after acquiring an additional 7,294 shares during the period. Finally, Aurora Investment Counsel bought a new position in Gorman-Rupp during the 4th quarter valued at about $2,083,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Price Performance

GRC traded up $0.01 during midday trading on Friday, hitting $38.78. The company had a trading volume of 58,412 shares, compared to its average volume of 80,328. 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 company has a market capitalization of $1.02 billion, a PE ratio of 25.34, a P/E/G ratio of 1.54 and a beta of 1.20. The Gorman-Rupp Company has a twelve month low of $30.87 and a twelve month high of $43.79. The firm's 50-day simple moving average is $35.50 and its 200-day simple moving average is $37.93.

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 for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $163.95 million during the quarter, compared to analysts' expectations of $164.84 million. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. Equities research analysts predict that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal 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. This represents a $0.74 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, May 15th. Gorman-Rupp's dividend payout ratio is 43.79%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a report 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.