Stifel Financial Corp Trims Stake in The Gorman-Rupp Company (NYSE:GRC)

Stifel Financial Corp reduced its holdings in The Gorman-Rupp Company (NYSE:GRC) by 17.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,629 shares of the industrial products company’s stock after selling 2,056 shares during the quarter. Stifel Financial Corp’s holdings in Gorman-Rupp were worth $375,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Mechanics Financial Corp grew its position in Gorman-Rupp by 105.7% in the third quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company’s stock worth $39,450,000 after acquiring an additional 520,361 shares in the last quarter. Robeco Schweiz AG purchased a new position in shares of Gorman-Rupp in the 2nd quarter worth about $7,876,000. Needham Investment Management LLC boosted its holdings in shares of Gorman-Rupp by 218.8% in the 3rd quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company’s stock worth $4,966,000 after purchasing an additional 87,500 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Gorman-Rupp by 44.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 79,770 shares of the industrial products company’s stock valued at $3,107,000 after purchasing an additional 24,683 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Gorman-Rupp by 20.7% during the 2nd quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock valued at $4,434,000 after buying an additional 20,689 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

GRC stock opened at $38.23 on Friday. The Gorman-Rupp Company has a 1 year low of $30.47 and a 1 year high of $43.79. The company has a market cap of $1.00 billion, a P/E ratio of 26.37, a PEG ratio of 1.82 and a beta of 0.95. The firm has a 50-day moving average of $40.41 and a 200 day moving average of $38.95. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.185 per share. The ex-dividend date was Friday, November 15th. This represents a $0.74 annualized dividend and a yield of 1.94%. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.18. Gorman-Rupp’s payout ratio is presently 51.03%.

Wall Street Analyst Weigh In

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

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.