Connor Clark & Lunn Investment Management Ltd. Has $2.49 Million Stake in The Gorman-Rupp Company (NYSE:GRC)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,962 shares of the industrial products company’s stock after selling 4,324 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.24% of Gorman-Rupp worth $2,491,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Gorman-Rupp by 5,461.5% during the third quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 710 shares during the period. Financial Management Professionals Inc. bought a new position in shares of Gorman-Rupp during the 3rd quarter worth approximately $29,000. nVerses Capital LLC bought a new stake in shares of Gorman-Rupp in the 3rd quarter valued at $31,000. CWM LLC lifted its position in shares of Gorman-Rupp by 76.8% during the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 400 shares during the period. Finally, Copeland Capital Management LLC bought a new position in Gorman-Rupp during the third quarter worth $58,000. 59.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Gorman-Rupp Trading Up 1.4 %

Shares of Gorman-Rupp stock opened at $42.58 on Monday. The stock has a market capitalization of $1.12 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.81 and a beta of 0.92. The Gorman-Rupp Company has a 52 week low of $30.47 and a 52 week high of $42.89. The stock has a 50 day moving average price of $39.20 and a two-hundred day moving average price of $37.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39.

Gorman-Rupp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, November 15th. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.18. Gorman-Rupp’s payout ratio is 51.03%.

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.