Inceptionr LLC Purchases 609 Shares of The Gorman-Rupp Company (NYSE:GRC)

Inceptionr LLC lifted its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,988 shares of the industrial products company’s stock after buying an additional 609 shares during the quarter. Inceptionr LLC’s holdings in Gorman-Rupp were worth $265,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GRC. Raymond James Financial Inc. purchased a new stake in Gorman-Rupp in the fourth quarter worth about $1,100,000. Proficio Capital Partners LLC bought a new position in shares of Gorman-Rupp during the fourth quarter valued at approximately $447,000. Charles Schwab Investment Management Inc. raised its stake 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 worth $6,604,000 after buying an additional 1,266 shares in the last quarter. Bailard Inc. lifted its holdings in Gorman-Rupp by 2.5% during the fourth quarter. Bailard Inc. now owns 16,395 shares of the industrial products company’s stock worth $622,000 after buying an additional 400 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in 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 buying an additional 16,334 shares during the period. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

GRC stock opened at $38.44 on Monday. The Gorman-Rupp Company has a one year low of $30.47 and a one year high of $43.79. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 1.54 and a beta of 0.94. 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 50-day simple moving average of $37.90 and a two-hundred day simple moving average of $38.88.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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 firm posted $0.34 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $0.185 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.93%. 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.