Mirae Asset Global Investments Co. Ltd. increased its position in shares of Gorman-Rupp Co (NYSE:GRC) by 18.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,186 shares of the industrial products company’s stock after acquiring an additional 2,236 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.05% of Gorman-Rupp worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in Gorman-Rupp during the 4th quarter worth approximately $26,000. Virginia Retirement Systems ET AL increased its holdings in Gorman-Rupp by 13.6% during the 4th quarter. Virginia Retirement Systems ET AL now owns 6,700 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 800 shares during the period. Bridgeway Capital Management Inc. bought a new stake in Gorman-Rupp during the 3rd quarter worth approximately $339,000. Marshall Wace LLP bought a new stake in Gorman-Rupp during the 3rd quarter worth approximately $357,000. Finally, MetLife Investment Advisors LLC increased its holdings in Gorman-Rupp by 63.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 11,912 shares of the industrial products company’s stock worth $435,000 after acquiring an additional 4,612 shares during the period. 53.05% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp stock opened at $34.06 on Friday. The company has a market cap of $889.55 million, a P/E ratio of 19.47 and a beta of 0.96. Gorman-Rupp Co has a 1-year low of $28.14 and a 1-year high of $38.26.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, February 8th. The industrial products company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.04. Gorman-Rupp had a net margin of 9.65% and a return on equity of 13.69%. The business had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $100.49 million. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 15th were paid a $0.135 dividend. The ex-dividend date was Thursday, February 14th. This represents a $0.54 dividend on an annualized basis and a yield of 1.59%.

In other Gorman-Rupp news, Director Christopher H. Lake sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $33.07, for a total value of $66,140.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is owned by insiders.

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Gorman-Rupp Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. 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.

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Institutional Ownership by Quarter for Gorman-Rupp (NYSE:GRC)

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