State of New Jersey Common Pension Fund D Acquires 35,796 Shares of The Gorman-Rupp Company (NYSE:GRC)

State of New Jersey Common Pension Fund D lifted its holdings in The Gorman-Rupp Company (NYSE:GRCGet Rating) by 207.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,088 shares of the industrial products company’s stock after purchasing an additional 35,796 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.20% of Gorman-Rupp worth $1,905,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. First Trust Advisors LP increased its holdings in Gorman-Rupp by 11.6% during the fourth quarter. First Trust Advisors LP now owns 579,578 shares of the industrial products company’s stock worth $25,820,000 after buying an additional 60,124 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Gorman-Rupp by 22.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 418,149 shares of the industrial products company’s stock worth $18,629,000 after buying an additional 76,787 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Gorman-Rupp by 16.8% during the fourth quarter. Victory Capital Management Inc. now owns 208,053 shares of the industrial products company’s stock worth $9,269,000 after buying an additional 29,881 shares during the last quarter. Fruth Investment Management increased its holdings in Gorman-Rupp by 2.0% during the first quarter. Fruth Investment Management now owns 69,383 shares of the industrial products company’s stock worth $2,489,000 after buying an additional 1,359 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Gorman-Rupp during the first quarter worth $2,271,000. Institutional investors own 55.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GRC shares. TheStreet downgraded shares of Gorman-Rupp from a “b-” rating to a “c+” rating in a report on Wednesday, June 8th. StockNews.com downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Tuesday.

Gorman-Rupp Price Performance

NYSE:GRC opened at $28.85 on Friday. The Gorman-Rupp Company has a one year low of $26.83 and a one year high of $47.12. The company has a market cap of $752.38 million, a P/E ratio of 34.35 and a beta of 0.64. The firm’s fifty day moving average price is $28.66 and its two-hundred day moving average price is $33.21.

Gorman-Rupp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be issued a $0.17 dividend. The ex-dividend date is Friday, August 12th. This represents a $0.68 annualized dividend and a dividend yield of 2.36%. Gorman-Rupp’s dividend payout ratio is currently 80.95%.

Gorman-Rupp Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding GRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Gorman-Rupp Company (NYSE:GRCGet Rating).

Institutional Ownership by Quarter for Gorman-Rupp (NYSE:GRC)

Want More Great Investing Ideas?

Receive News & Ratings for Gorman-Rupp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gorman-Rupp and related companies with MarketBeat.com's FREE daily email newsletter.