Posted by admin on Aug 8th, 2022
Victory Capital Management Inc. lifted its stake in shares of The Gorman-Rupp Company (NYSE:GRC – Get Rating) by 61.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 336,775 shares of the industrial products company’s stock after acquiring an additional 128,722 shares during the quarter. Victory Capital Management Inc. owned approximately 1.29% of Gorman-Rupp worth $10,730,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Bell Investment Advisors Inc purchased a new position in shares of Gorman-Rupp during the fourth quarter worth approximately $29,000. Kepos Capital LP purchased a new position in Gorman-Rupp during the fourth quarter valued at approximately $71,000. EverSource Wealth Advisors LLC purchased a new position in Gorman-Rupp during the fourth quarter valued at approximately $110,000. ProShare Advisors LLC purchased a new position in Gorman-Rupp during the fourth quarter valued at approximately $222,000. Finally, Phoenix Holdings Ltd. purchased a new position in Gorman-Rupp during the fourth quarter valued at approximately $223,000. 55.88% of the stock is owned by hedge funds and other institutional investors.
GRC has been the topic of several research reports. StockNews.com lowered shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 2nd. TheStreet downgraded shares of Gorman-Rupp from a “b-” rating to a “c+” rating in a research note on Wednesday, June 8th.
Shares of GRC opened at $28.23 on Monday. The company has a market cap of $736.21 million, a price-to-earnings ratio of 33.61 and a beta of 0.64. The Gorman-Rupp Company has a twelve month low of $26.83 and a twelve month high of $47.12. The company has a 50 day moving average of $28.64 and a two-hundred day moving average of $33.03.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.68 annualized dividend and a yield of 2.41%. Gorman-Rupp’s dividend payout ratio (DPR) is 80.95%.
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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