US Bancorp DE Raises Holdings in The Gorman-Rupp Company (NYSE:GRC)

US Bancorp DE increased its holdings in The Gorman-Rupp Company (NYSE:GRCGet Rating) by 64.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 94,881 shares of the industrial products company’s stock after acquiring an additional 37,176 shares during the period. US Bancorp DE owned approximately 0.36% of Gorman-Rupp worth $2,258,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Strs Ohio boosted its position in shares of Gorman-Rupp by 5.9% during the second quarter. Strs Ohio now owns 9,000 shares of the industrial products company’s stock worth $254,000 after buying an additional 500 shares during the period. KBC Group NV boosted its position in shares of Gorman-Rupp by 0.3% during the second quarter. KBC Group NV now owns 175,186 shares of the industrial products company’s stock worth $4,958,000 after buying an additional 507 shares during the period. Quantbot Technologies LP purchased a new position in shares of Gorman-Rupp during the second quarter worth $28,000. Fruth Investment Management boosted its position in shares of Gorman-Rupp by 1.5% during the second quarter. Fruth Investment Management now owns 70,390 shares of the industrial products company’s stock worth $2,567,000 after buying an additional 1,007 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in shares of Gorman-Rupp in the second quarter valued at $34,000. 59.79% of the stock is currently owned by hedge funds and other institutional investors.

Gorman-Rupp Stock Up 0.7 %

Shares of NYSE GRC opened at $27.77 on Monday. The stock has a market cap of $724.66 million, a P/E ratio of 47.07 and a beta of 0.74. The company has a current ratio of 2.38, a quick ratio of 1.26 and a debt-to-equity ratio of 1.26. The Gorman-Rupp Company has a 12-month low of $22.67 and a 12-month high of $41.87. The business’s fifty day simple moving average is $26.81 and its 200-day simple moving average is $26.75.

Gorman-Rupp (NYSE:GRCGet Rating) last posted its quarterly earnings results on Friday, October 28th. The industrial products company reported $0.25 earnings per share for the quarter. Gorman-Rupp had a return on equity of 8.66% and a net margin of 3.26%. The company had revenue of $153.79 million for the quarter.

Gorman-Rupp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th were paid a $0.175 dividend. The ex-dividend date of this dividend was Monday, November 14th. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 2.52%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 118.64%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Gorman-Rupp from a “sell” rating to a “hold” rating in a research note on Friday, November 25th.

Gorman-Rupp 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.

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

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