DekaBank Deutsche Girozentrale acquired a new position in The Gorman-Rupp Company (NYSE:GRC – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,402 shares of the industrial products company’s stock, valued at approximately $262,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GRC. Dimensional Fund Advisors LP increased its holdings in shares of Gorman-Rupp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,321,685 shares of the industrial products company’s stock worth $46,960,000 after purchasing an additional 13,129 shares in the last quarter. Cooke & Bieler LP increased its holdings in Gorman-Rupp by 3.3% in the 2nd quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock worth $20,683,000 after buying an additional 17,977 shares in the last quarter. Grace & White Inc. NY raised its position in Gorman-Rupp by 1.5% in the 2nd quarter. Grace & White Inc. NY now owns 350,704 shares of the industrial products company’s stock worth $12,874,000 after buying an additional 5,033 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Gorman-Rupp by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,457 shares of the industrial products company’s stock worth $11,244,000 after buying an additional 944 shares during the last quarter. Finally, Robeco Schweiz AG purchased a new stake in shares of Gorman-Rupp during the 2nd quarter valued at about $7,876,000. 59.26% of the stock is owned by institutional investors.
Gorman-Rupp Price Performance
NYSE GRC opened at $38.38 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.51 and a beta of 0.92. The Gorman-Rupp Company has a 1-year low of $28.87 and a 1-year high of $42.24. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.45 and a quick ratio of 1.44. The business’s fifty day moving average price is $38.58 and its 200-day moving average price is $36.90.
Gorman-Rupp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.88%. Gorman-Rupp’s dividend payout ratio (DPR) is 52.17%.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.
Check Out Our Latest Research Report on GRC
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.
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