Barclays PLC Boosts Holdings in The Gorman-Rupp Company (NYSE:GRC)

Barclays PLC increased its stake in shares of The Gorman-Rupp Company (NYSE:GRC) by 317.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,777 shares of the industrial products company’s stock after acquiring an additional 26,455 shares during the quarter. Barclays PLC owned about 0.13% of Gorman-Rupp worth $1,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in shares of Gorman-Rupp by 5,461.5% in the third quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 710 shares during the period. Financial Management Professionals Inc. purchased a new stake in Gorman-Rupp in the 3rd quarter valued at $29,000. nVerses Capital LLC purchased a new stake in Gorman-Rupp in the 3rd quarter valued at $31,000. Copeland Capital Management LLC acquired a new stake in Gorman-Rupp during the 3rd quarter worth $58,000. Finally, Point72 Asset Management L.P. purchased a new position in Gorman-Rupp during the 3rd quarter worth $62,000. 59.26% of the stock is owned by hedge funds and other institutional investors.

Gorman-Rupp Stock Down 1.2 %

Gorman-Rupp stock opened at $38.23 on Friday. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.82 and a beta of 0.95. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average of $40.41 and a two-hundred day moving average of $38.95. The Gorman-Rupp Company has a twelve month low of $30.47 and a twelve month high of $43.79.

Gorman-Rupp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a $0.185 dividend. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, November 15th. Gorman-Rupp’s payout ratio is currently 51.03%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Friday, November 29th.

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.