Jane Street Group LLC Reduces Stock Position in The Gorman-Rupp Company (NYSE:GRC)

Jane Street Group LLC cut its stake in The Gorman-Rupp Company (NYSE:GRC) by 15.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,076 shares of the industrial products company’s stock after selling 3,678 shares during the quarter. Jane Street Group LLC owned 0.08% of Gorman-Rupp worth $782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Gorman-Rupp by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock valued at $49,156,000 after purchasing an additional 17,340 shares during the period. Mechanics Financial Corp grew its position in Gorman-Rupp by 105.7% during the third quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company’s stock valued at $39,450,000 after buying an additional 520,361 shares during the period. Robeco Schweiz AG purchased a new stake in Gorman-Rupp during the second quarter valued at approximately $7,876,000. Needham Investment Management LLC increased its holdings 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 valued at $4,966,000 after buying an additional 87,500 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Gorman-Rupp by 20.7% in the second quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock worth $4,434,000 after acquiring an additional 20,689 shares during the period. 59.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Gorman-Rupp Stock Performance

Shares of GRC opened at $37.30 on Friday. The business has a 50-day simple moving average of $40.38 and a two-hundred day simple moving average of $38.97. 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 Gorman-Rupp Company has a 52 week low of $30.47 and a 52 week high of $43.79. The stock has a market cap of $978.30 million, a price-to-earnings ratio of 25.72, a PEG ratio of 1.82 and a beta of 0.95.

Gorman-Rupp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a dividend of $0.185 per share. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.98%. Gorman-Rupp’s dividend payout ratio (DPR) is presently 51.03%.

Gorman-Rupp 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.