The Gorman-Rupp Company (NYSE:GRC) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its stake in The Gorman-Rupp Company (NYSE:GRC) by 6.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,341 shares of the industrial products company’s stock after selling 862 shares during the quarter. MetLife Investment Management LLC’s holdings in Gorman-Rupp were worth $481,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Gorman-Rupp by 70.1% in the 3rd quarter. FMR LLC now owns 19,679 shares of the industrial products company’s stock worth $766,000 after acquiring an additional 8,112 shares during the last quarter. Quantbot Technologies LP acquired a new position in Gorman-Rupp during the third quarter worth $154,000. Fisher Asset Management LLC lifted its stake in Gorman-Rupp by 6.6% during the third quarter. Fisher Asset Management LLC now owns 48,086 shares of the industrial products company’s stock worth $1,873,000 after purchasing an additional 2,987 shares in the last quarter. Quest Partners LLC boosted its position in shares of Gorman-Rupp by 50,800.0% during the third quarter. Quest Partners LLC now owns 7,635 shares of the industrial products company’s stock worth $297,000 after buying an additional 7,620 shares during the period. Finally, Mechanics Financial Corp raised its holdings in shares of Gorman-Rupp by 105.7% in the 3rd 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. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Gorman-Rupp Trading Up 0.4 %

Shares of GRC stock opened at $42.00 on Friday. The Gorman-Rupp Company has a fifty-two week low of $30.47 and a fifty-two week high of $43.79. The company has a 50 day moving average price of $40.03 and a 200 day moving average price of $38.41. The stock has a market capitalization of $1.10 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95. 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 business 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 dividend of $0.185 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.76%. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.18. Gorman-Rupp’s dividend payout ratio is currently 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.