Mechanics Financial Corp Has $17.50 Million Stock Position in The Gorman-Rupp Company (NYSE:GRC)

Mechanics Financial Corp lowered its position in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 52.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 492,464 shares of the industrial products company's stock after selling 538,382 shares during the period. Gorman-Rupp comprises approximately 9.9% of Mechanics Financial Corp's holdings, making the stock its largest position. Mechanics Financial Corp owned about 1.88% of Gorman-Rupp worth $17,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GRC. Mirae Asset Global Investments Co. Ltd. grew its position in Gorman-Rupp by 9.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company's stock worth $17,911,000 after purchasing an additional 46,396 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Gorman-Rupp by 380.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,854 shares of the industrial products company's stock worth $1,558,000 after purchasing an additional 34,728 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Gorman-Rupp by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company's stock valued at $74,230,000 after acquiring an additional 19,797 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in Gorman-Rupp during the third quarter worth about $589,000. Finally, Gamco Investors INC. ET AL lifted its position in shares of Gorman-Rupp by 2.8% during the third quarter. Gamco Investors INC. ET AL now owns 552,638 shares of the industrial products company's stock worth $18,182,000 after purchasing an additional 15,300 shares in the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Trading Down 1.1 %

GRC traded down $0.35 during mid-day trading on Thursday, hitting $32.44. The stock had a trading volume of 128,579 shares, compared to its average volume of 76,901. The stock's fifty day simple moving average is $36.96 and its 200-day simple moving average is $34.52. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.32 and a quick ratio of 1.31. The Gorman-Rupp Company has a 1-year low of $23.62 and a 1-year high of $40.00. The firm has a market capitalization of $850.25 million, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.05). Gorman-Rupp had a net margin of 5.52% and a return on equity of 10.54%. The firm had revenue of $159.27 million during the quarter, compared to analyst estimates of $168.49 million. As a group, research analysts forecast that The Gorman-Rupp Company will post 1.55 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, May 14th. Gorman-Rupp's dividend payout ratio (DPR) is presently 52.17%.

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.