Cooke & Bieler LP Sells 81,690 Shares of Gorman-Rupp Company (The) $GRC

Cooke & Bieler LP lowered its holdings in Gorman-Rupp Company (The) (NYSE:GRC) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,275 shares of the industrial products company’s stock after selling 81,690 shares during the quarter. Cooke & Bieler LP owned 1.52% of Gorman-Rupp worth $14,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Gorman-Rupp by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,329 shares of the industrial products company’s stock worth $468,000 after purchasing an additional 1,093 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Gorman-Rupp in the first quarter worth $213,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Gorman-Rupp in the first quarter worth $221,000. Aurora Private Wealth Inc. purchased a new position in shares of Gorman-Rupp in the first quarter worth $1,262,000. Finally, Mackenzie Financial Corp raised its stake in shares of Gorman-Rupp by 18.6% in the first quarter. Mackenzie Financial Corp now owns 18,107 shares of the industrial products company’s stock worth $636,000 after purchasing an additional 2,836 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Analyst Upgrades and Downgrades

GRC has been the subject of several recent analyst reports. Wall Street Zen cut Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 25th. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Gorman-Rupp Stock Up 0.5%

Gorman-Rupp stock opened at $45.01 on Friday. The stock has a market cap of $1.18 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.39 and a current ratio of 2.08. Gorman-Rupp Company has a one year low of $30.87 and a one year high of $49.24. The stock has a fifty day moving average of $44.90 and a 200 day moving average of $40.26.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $172.83 million for the quarter, compared to analysts’ expectations of $174.61 million. Gorman-Rupp had a net margin of 7.41% and a return on equity of 13.49%. As a group, sell-side analysts predict that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.7%. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, November 14th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 38.74%.

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.