Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in The Gorman-Rupp Company (NYSE:GRC)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in The Gorman-Rupp Company (NYSE:GRC) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,564 shares of the industrial products company’s stock after acquiring an additional 5,602 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Gorman-Rupp were worth $2,638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GRC. Bank of New York Mellon Corp increased its stake in Gorman-Rupp by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 185,956 shares of the industrial products company’s stock valued at $7,051,000 after purchasing an additional 16,334 shares during the period. Charles Schwab Investment Management Inc. increased its position in Gorman-Rupp by 0.7% in the 4th 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 period. Needham Investment Management LLC raised its stake in Gorman-Rupp by 218.8% during the 3rd quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company’s stock valued at $4,966,000 after acquiring an additional 87,500 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Gorman-Rupp by 54.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company’s stock worth $2,861,000 after acquiring an additional 25,977 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Gorman-Rupp by 6.6% in the 3rd quarter. Fisher Asset Management LLC now owns 48,086 shares of the industrial products company’s stock valued at $1,873,000 after purchasing an additional 2,987 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Analysts Set New Price Targets

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

Gorman-Rupp Trading Up 0.0 %

Shares of Gorman-Rupp stock opened at $37.59 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The firm has a market cap of $986.02 million, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94. The Gorman-Rupp Company has a 52-week low of $30.47 and a 52-week high of $43.79. The company’s 50-day simple moving average is $37.88 and its 200-day simple moving average is $38.82.

Gorman-Rupp (NYSE:GRC) last posted 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 period last year, the firm earned $0.34 earnings per share. As a group, equities research analysts anticipate that The Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders 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 dividend yield of 1.97%. 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.