KBC Group NV Has $17.23 Million Stock Position in Gorman-Rupp Company (The) $GRC

KBC Group NV lowered its holdings in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 18.8% in the first quarter, HoldingsChannel reports. The firm owned 277,277 shares of the industrial products company’s stock after selling 63,992 shares during the period. KBC Group NV’s holdings in Gorman-Rupp were worth $17,227,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Gorman-Rupp by 43.2% in the third quarter. JPMorgan Chase & Co. now owns 67,990 shares of the industrial products company’s stock valued at $3,155,000 after purchasing an additional 20,522 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Gorman-Rupp by 42.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 123,382 shares of the industrial products company’s stock worth $5,891,000 after acquiring an additional 37,037 shares during the period. SG Americas Securities LLC increased its position in Gorman-Rupp by 222.3% during the fourth quarter. SG Americas Securities LLC now owns 11,096 shares of the industrial products company’s stock worth $530,000 after acquiring an additional 7,653 shares during the period. Total Clarity Wealth Management Inc. acquired a new stake in Gorman-Rupp in the 1st quarter worth about $472,000. Finally, Needham Investment Management LLC raised its stake in Gorman-Rupp by 30.0% in the 4th quarter. Needham Investment Management LLC now owns 260,000 shares of the industrial products company’s stock worth $12,415,000 after purchasing an additional 60,000 shares in the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

Shares of NYSE:GRC opened at $80.42 on Wednesday. The firm has a 50 day moving average of $80.41 and a 200-day moving average of $68.86. Gorman-Rupp Company has a 12 month low of $37.08 and a 12 month high of $92.78. The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.12 billion, a PE ratio of 36.06, a PEG ratio of 2.34 and a beta of 1.28.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.19. The business had revenue of $176.59 million for the quarter, compared to analyst estimates of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. On average, equities research analysts predict that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 15th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 34.08%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GRC shares. Weiss Ratings lowered shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Zacks Research downgraded Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Gorman-Rupp Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.