Raymond James Financial Inc. Makes New $1.10 Million Investment in The Gorman-Rupp Company (NYSE:GRC)

Raymond James Financial Inc. acquired a new position in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 29,010 shares of the industrial products company's stock, valued at approximately $1,100,000. Raymond James Financial Inc. owned approximately 0.11% of Gorman-Rupp as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in shares of Gorman-Rupp in the 4th quarter valued at $447,000. Charles Schwab Investment Management Inc. lifted its position in Gorman-Rupp by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,153 shares of the industrial products company's stock valued at $6,604,000 after acquiring an additional 1,266 shares during the last quarter. Bailard Inc. boosted its stake in Gorman-Rupp by 2.5% in the fourth quarter. Bailard Inc. now owns 16,395 shares of the industrial products company's stock valued at $622,000 after acquiring an additional 400 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Gorman-Rupp by 9.6% during the fourth quarter. Bank of New York Mellon Corp now owns 185,956 shares of the industrial products company's stock worth $7,051,000 after purchasing an additional 16,334 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Gorman-Rupp by 13.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 9,913 shares of the industrial products company's stock worth $376,000 after purchasing an additional 1,147 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 25th.

Gorman-Rupp Stock Performance

Shares of GRC stock traded down $0.70 during trading hours on Tuesday, hitting $31.31. The stock had a trading volume of 93,911 shares, compared to its average volume of 85,426. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The firm has a market capitalization of $821.20 million, a PE ratio of 20.46, a PEG ratio of 1.54 and a beta of 1.05. The stock's 50 day moving average is $37.01 and its 200 day moving average is $38.52. The Gorman-Rupp Company has a twelve month low of $30.47 and a twelve month high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, research analysts forecast that The Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $0.185 per share. The ex-dividend date was Friday, February 14th. This represents a $0.74 dividend on an annualized basis and a yield of 2.36%. Gorman-Rupp's payout ratio is 48.37%.

Gorman-Rupp 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.