Creative Planning Sells 261 Shares of The Gorman-Rupp Company (NYSE:GRC)

Creative Planning reduced its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,627 shares of the industrial products company’s stock after selling 261 shares during the period. Creative Planning’s holdings in Gorman-Rupp were worth $336,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GRC. CWM LLC lifted its position in shares of Gorman-Rupp by 76.8% during the second quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 400 shares in the last quarter. Mather Group LLC. increased its holdings in Gorman-Rupp by 517.0% during the second quarter. Mather Group LLC. now owns 1,598 shares of the industrial products company’s stock worth $63,000 after buying an additional 1,339 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Gorman-Rupp by 63.8% during the first quarter. Lazard Asset Management LLC now owns 2,047 shares of the industrial products company’s stock worth $80,000 after buying an additional 797 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Gorman-Rupp during the second quarter worth about $122,000. Finally, EntryPoint Capital LLC purchased a new stake in Gorman-Rupp during the first quarter worth about $131,000. 59.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

Gorman-Rupp Price Performance

GRC opened at $42.16 on Friday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 1.64 and a beta of 0.92. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $38.28 and a 200-day moving average price of $37.16. The Gorman-Rupp Company has a twelve month low of $30.08 and a twelve month high of $42.89.

Gorman-Rupp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.185 dividend. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.74 annualized dividend and a dividend yield of 1.76%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 51.03%.

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.