Mechanics Financial Corp Decreases Stock Position in The Gorman-Rupp Company (NYSE:GRC)

Mechanics Financial Corp lowered its holdings in shares of The Gorman-Rupp Company (NYSE:GRC) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,009,675 shares of the industrial products company’s stock after selling 3,150 shares during the quarter. Gorman-Rupp makes up 17.2% of Mechanics Financial Corp’s portfolio, making the stock its biggest holding. Mechanics Financial Corp owned approximately 3.85% of Gorman-Rupp worth $38,287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GRC. Vanguard Group Inc. boosted its stake in Gorman-Rupp by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,205,019 shares of the industrial products company’s stock valued at $83,614,000 after buying an additional 20,407 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Gorman-Rupp by 9.6% in the 4th quarter. Bank of New York Mellon Corp now owns 185,956 shares of the industrial products company’s stock valued at $7,051,000 after acquiring an additional 16,334 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Gorman-Rupp by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,153 shares of the industrial products company’s stock worth $6,604,000 after acquiring an additional 1,266 shares during the last quarter. Needham Investment Management LLC increased its stake in Gorman-Rupp by 218.8% during the third quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company’s stock worth $4,966,000 after acquiring an additional 87,500 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Gorman-Rupp by 57.3% in the 4th quarter. JPMorgan Chase & Co. now owns 115,536 shares of the industrial products company’s stock valued at $4,381,000 after purchasing an additional 42,082 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 25th.

Gorman-Rupp Trading Down 2.9 %

GRC stock opened at $35.34 on Friday. The Gorman-Rupp Company has a 12 month low of $30.47 and a 12 month high of $43.79. The firm’s 50-day moving average is $37.74 and its 200 day moving average is $38.74. The company has a market capitalization of $927.00 million, a PE ratio of 23.10, a P/E/G ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, research analysts anticipate that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $0.185 per share. The ex-dividend date was Friday, February 14th. This represents a $0.74 dividend on an annualized basis and a yield of 2.09%. Gorman-Rupp’s payout ratio is 48.37%.

About Gorman-Rupp

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.