Walleye Capital LLC Makes New Investment in The Gorman-Rupp Company (NYSE:GRC)

Walleye Capital LLC bought a new position in shares of The Gorman-Rupp Company (NYSE:GRC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,275 shares of the industrial products company’s stock, valued at approximately $595,000. Walleye Capital LLC owned approximately 0.06% of Gorman-Rupp at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised 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 acquiring an additional 710 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Gorman-Rupp during the third quarter worth about $29,000. nVerses Capital LLC acquired a new position in Gorman-Rupp during the third quarter worth about $31,000. CWM LLC raised its stake in Gorman-Rupp by 76.8% during the second quarter. CWM LLC now owns 921 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 400 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new position in Gorman-Rupp during the third quarter worth about $58,000. Institutional investors and hedge funds 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 report on Friday, November 29th.

Gorman-Rupp Stock Performance

NYSE:GRC opened at $42.00 on Friday. The stock has a market cap 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 current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The stock’s 50-day moving average is $40.03 and its 200-day moving average is $38.41. The Gorman-Rupp Company has a 1-year low of $30.47 and a 1-year high of $43.79.

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 issued a dividend of $0.185 per share. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, November 15th. 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.