Nisa Investment Advisors LLC Lowers Position in The Gorman-Rupp Company (NYSE:GRC)

Nisa Investment Advisors LLC trimmed its position in The Gorman-Rupp Company (NYSE:GRC) by 34.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,025 shares of the industrial products company’s stock after selling 4,200 shares during the period. Nisa Investment Advisors LLC’s holdings in Gorman-Rupp were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GRC. Robeco Schweiz AG purchased a new position in Gorman-Rupp in the second quarter worth about $7,876,000. Assenagon Asset Management S.A. boosted its stake in 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. Renaissance Technologies LLC lifted its holdings in shares of Gorman-Rupp by 20.7% during the second quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company’s stock valued at $4,434,000 after purchasing an additional 20,689 shares in the last quarter. Cooke & Bieler LP boosted its position in shares of Gorman-Rupp by 3.3% during the second quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock valued at $20,683,000 after buying an additional 17,977 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Gorman-Rupp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock worth $49,156,000 after buying an additional 17,340 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Analysts Set New Price Targets

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 Trading Up 9.2 %

Shares of GRC opened at $42.30 on Thursday. The Gorman-Rupp Company has a twelve month low of $29.75 and a twelve month high of $42.89. The company’s fifty day simple moving average is $38.16 and its 200-day simple moving average is $37.08. 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 company has a market cap of $1.11 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.64 and a beta of 0.92.

Gorman-Rupp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.185 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.75%. Gorman-Rupp’s payout ratio is 49.66%.

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.