The Gorman-Rupp Company (NYSE:GRC) Holdings Increased by Needham Investment Management LLC

Needham Investment Management LLC increased its position in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,500 shares of the industrial products company's stock after buying an additional 11,000 shares during the period. Needham Investment Management LLC owned about 0.53% of Gorman-Rupp worth $5,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in Gorman-Rupp during the 4th quarter worth $38,000. Aquatic Capital Management LLC increased its stake in Gorman-Rupp by 46.2% during the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock worth $161,000 after buying an additional 1,339 shares during the period. Inceptionr LLC grew its holdings in Gorman-Rupp by 9.5% during the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock worth $265,000 after acquiring an additional 609 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Gorman-Rupp by 880.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,047 shares of the industrial products company's stock worth $267,000 after acquiring an additional 6,328 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Gorman-Rupp by 390.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 7,401 shares of the industrial products company's stock worth $281,000 after acquiring an additional 5,892 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company's stock.

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 Stock Performance

Shares of NYSE GRC traded up $0.01 during midday trading on Friday, hitting $38.78. The company's stock had a trading volume of 58,412 shares, compared to its average volume of 80,274. The Gorman-Rupp Company has a 1-year low of $30.87 and a 1-year high of $43.79. The firm's fifty day moving average price is $35.48 and its 200-day moving average price is $37.93. 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 cap of $1.02 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.54 and a beta of 1.20.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $164.84 million. On average, sell-side analysts forecast that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

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 issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Thursday, May 15th. Gorman-Rupp's dividend payout ratio (DPR) is presently 43.79%.

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.