Mirae Asset Global Investments Co. Ltd. Decreases Holdings in The Gorman-Rupp Company (NYSE:GRC)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of The Gorman-Rupp Company (NYSE:GRC) by 15.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 459,411 shares of the industrial products company’s stock after selling 80,839 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.75% of Gorman-Rupp worth $18,170,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GRC. New York State Teachers Retirement System purchased a new stake in shares of Gorman-Rupp during the 1st quarter valued at about $82,000. Global Retirement Partners LLC raised its position in shares of Gorman-Rupp by 92.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company’s stock valued at $88,000 after buying an additional 1,298 shares in the last quarter. Quest Partners LLC purchased a new stake in Gorman-Rupp in the 4th quarter worth about $120,000. Swisher Financial Concepts Inc. purchased a new stake in Gorman-Rupp in the 1st quarter worth about $216,000. Finally, Bailard Inc. purchased a new stake in Gorman-Rupp in the 4th quarter worth about $305,000. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Gorman-Rupp Trading Down 0.9 %

Gorman-Rupp stock traded down $0.32 during midday trading on Friday, reaching $36.30. The stock had a trading volume of 50,231 shares, compared to its average volume of 126,535. The company has a quick ratio of 1.33, a current ratio of 2.32 and a debt-to-equity ratio of 1.06. The Gorman-Rupp Company has a 52-week low of $27.36 and a 52-week high of $40.00. The firm has a market cap of $951.42 million, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 1.68 and a beta of 0.94. The company has a fifty day moving average of $34.79 and a 200 day moving average of $35.56.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $159.27 million for the quarter, compared to analysts’ expectations of $168.49 million. Gorman-Rupp had a return on equity of 10.54% and a net margin of 5.52%. On average, analysts anticipate that The Gorman-Rupp Company will post 1.66 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, May 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.98%. Gorman-Rupp’s dividend payout ratio is presently 52.17%.

Gorman-Rupp Company 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.