Tower Research Capital LLC TRC increased its holdings in Gorman-Rupp Co (NYSE:GRC) by 491.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,384 shares of the industrial products company’s stock after purchasing an additional 6,967 shares during the period. Tower Research Capital LLC TRC’s holdings in Gorman-Rupp were worth $262,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of GRC. WCM Investment Management CA lifted its holdings in Gorman-Rupp by 502.2% in the 4th quarter. WCM Investment Management CA now owns 177,822 shares of the industrial products company’s stock worth $5,550,000 after purchasing an additional 148,295 shares in the last quarter. First Trust Advisors LP lifted its holdings in Gorman-Rupp by 40.2% in the 3rd quarter. First Trust Advisors LP now owns 204,168 shares of the industrial products company’s stock worth $6,650,000 after purchasing an additional 58,562 shares in the last quarter. Cooke & Bieler LP lifted its holdings in Gorman-Rupp by 29.0% in the 4th quarter. Cooke & Bieler LP now owns 221,728 shares of the industrial products company’s stock worth $6,920,000 after purchasing an additional 49,802 shares in the last quarter. Dupont Capital Management Corp purchased a new position in Gorman-Rupp in the 4th quarter worth approximately $1,480,000. Finally, KBC Group NV purchased a new position in Gorman-Rupp in the 3rd quarter worth approximately $1,232,000. 51.81% of the stock is currently owned by institutional investors.
Shares of Gorman-Rupp Co (NYSE GRC) opened at $27.27 on Monday. Gorman-Rupp Co has a 12 month low of $23.55 and a 12 month high of $33.50. The stock has a market capitalization of $711.93, a P/E ratio of 26.74 and a beta of 1.18.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Thursday, February 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Wednesday, February 14th. Gorman-Rupp’s payout ratio is 49.02%.
Separately, Zacks Investment Research raised Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Tuesday, October 31st.
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Gorman-Rupp Company Profile
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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