The Gorman-Rupp Company (NYSE:GRC) Shares Sold by Centiva Capital LP

Centiva Capital LP decreased its holdings in The Gorman-Rupp Company (NYSE:GRC) by 17.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,573 shares of the industrial products company’s stock after selling 2,015 shares during the quarter. Centiva Capital LP’s holdings in Gorman-Rupp were worth $373,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in Gorman-Rupp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock worth $49,156,000 after acquiring an additional 17,340 shares in the last quarter. Mechanics Financial Corp raised 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. Cooke & Bieler LP raised its position in Gorman-Rupp by 3.3% in the second quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock worth $20,683,000 after acquiring an additional 17,977 shares in the last quarter. Grace & White Inc. NY raised its position in Gorman-Rupp by 1.5% in the second quarter. Grace & White Inc. NY now owns 350,704 shares of the industrial products company’s stock worth $12,874,000 after acquiring an additional 5,033 shares in the last quarter. Finally, Robeco Schweiz AG purchased a new position in Gorman-Rupp in the second quarter worth $7,876,000. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Gorman-Rupp Trading Down 0.3 %

Shares of GRC stock opened at $41.88 on Tuesday. The Gorman-Rupp Company has a fifty-two week low of $30.47 and a fifty-two week high of $43.79. The stock has a market cap of $1.10 billion, a P/E ratio of 28.88, a P/E/G ratio of 1.82 and a beta of 0.95. The business has a fifty day simple moving average of $40.08 and a 200-day simple moving average of $38.51. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99.

Gorman-Rupp Increases Dividend

The company also recently declared 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 is Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18. Gorman-Rupp’s dividend payout ratio (DPR) is currently 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.