The Gorman-Rupp Company (NYSE:GRC) Stock Holdings Lifted by Quest Partners LLC

Quest Partners LLC lifted its position in The Gorman-Rupp Company (NYSE:GRC) by 50,800.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,635 shares of the industrial products company’s stock after acquiring an additional 7,620 shares during the period. Quest Partners LLC’s holdings in Gorman-Rupp were worth $297,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Gorman-Rupp by 5,461.5% in 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 stake in shares of Gorman-Rupp during the third quarter worth approximately $29,000. nVerses Capital LLC acquired a new stake in shares of Gorman-Rupp during the third quarter worth approximately $31,000. CWM LLC boosted its holdings in shares of 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 purchasing an additional 400 shares during the period. Finally, Copeland Capital Management LLC acquired a new stake in shares of Gorman-Rupp during the third quarter worth approximately $58,000. 59.26% of the stock is owned by hedge funds and other institutional investors.

Gorman-Rupp Stock Performance

GRC stock opened at $43.03 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The stock has a market cap of $1.13 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.84 and a beta of 0.92. The firm has a 50 day simple moving average of $39.20 and a 200 day simple moving average of $37.78. The Gorman-Rupp Company has a 52 week low of $30.47 and a 52 week high of $43.79.

Gorman-Rupp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 1.72%. The ex-dividend date is Friday, November 15th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 51.03%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st.

Gorman-Rupp Company 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.