First Trust Advisors LP boosted its position in shares of Gorman-Rupp Co (NYSE:GRC) by 5.6% in the first quarter, Holdings Channel.com reports. The firm owned 240,115 shares of the industrial products company’s stock after purchasing an additional 12,702 shares during the period. First Trust Advisors LP’s holdings in Gorman-Rupp were worth $7,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GRC. IFP Advisors Inc boosted its position in Gorman-Rupp by 1,550.0% during the fourth quarter. IFP Advisors Inc now owns 1,650 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,550 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Gorman-Rupp by 28.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 13,610 shares of the industrial products company’s stock valued at $510,000 after purchasing an additional 3,000 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Gorman-Rupp by 3.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 23,798 shares of the industrial products company’s stock worth $892,000 after buying an additional 691 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Gorman-Rupp by 50.7% in the fourth quarter. Victory Capital Management Inc. now owns 11,156 shares of the industrial products company’s stock worth $412,000 after buying an additional 3,751 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Gorman-Rupp by 0.9% in the fourth quarter. Rhumbline Advisers now owns 28,483 shares of the industrial products company’s stock worth $1,068,000 after buying an additional 267 shares during the last quarter. 54.70% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:GRC opened at $29.56 on Friday. Gorman-Rupp Co has a fifty-two week low of $21.49 and a fifty-two week high of $39.60. The business has a 50-day moving average of $28.20 and a two-hundred day moving average of $33.55. The stock has a market capitalization of $771.26 million, a P/E ratio of 23.46 and a beta of 0.69.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.13). Gorman-Rupp had a return on equity of 10.72% and a net margin of 8.67%. The business had revenue of $91.67 million for the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.58 annualized dividend and a dividend yield of 1.96%.

A number of brokerages have weighed in on GRC. Sidoti raised Gorman-Rupp from a “neutral” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Friday, March 6th. TheStreet cut Gorman-Rupp from a “b-” rating to a “c+” rating in a research report on Wednesday, April 1st.

About Gorman-Rupp

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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