GSA Capital Partners LLP lifted its stake in shares of Gorman-Rupp Co (NYSE:GRC) by 133.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,275 shares of the industrial products company’s stock after purchasing an additional 19,600 shares during the period. GSA Capital Partners LLP owned about 0.13% of Gorman-Rupp worth $1,116,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of Gorman-Rupp by 0.3% during the second quarter. Rhumbline Advisers now owns 22,640 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 63 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Gorman-Rupp by 1.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,889 shares of the industrial products company’s stock valued at $226,000 after acquiring an additional 94 shares in the last quarter. Manchester Capital Management LLC grew its stake in Gorman-Rupp by 0.3% during the 2nd quarter. Manchester Capital Management LLC now owns 29,904 shares of the industrial products company’s stock valued at $762,000 after acquiring an additional 100 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Gorman-Rupp by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,562 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 187 shares in the last quarter. Finally, Nationwide Fund Advisors grew its stake in Gorman-Rupp by 2.5% during the 2nd quarter. Nationwide Fund Advisors now owns 11,512 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 277 shares in the last quarter. 52.83% of the stock is owned by institutional investors and hedge funds.
Shares of Gorman-Rupp Co (NYSE:GRC) opened at $31.19 on Friday. Gorman-Rupp Co has a one year low of $23.55 and a one year high of $34.45. The stock has a market cap of $809.57, a PE ratio of 26.97 and a beta of 1.30.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Wednesday, November 15th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, November 14th. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.12. Gorman-Rupp’s dividend payout ratio is currently 55.56%.
Separately, Zacks Investment Research cut shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th.
In related news, Director Christopher H. Lake sold 2,500 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $31.75, for a total transaction of $79,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is currently owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: “GSA Capital Partners LLP Grows Stake in Gorman-Rupp Co (GRC)” was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.com-unik.info/2017/12/23/gsa-capital-partners-llp-grows-stake-in-gorman-rupp-co-grc.html.
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.
Want to see what other hedge funds are holding GRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gorman-Rupp Co (NYSE:GRC).
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.