Posted by admin on Aug 6th, 2022

Shell Asset Management Co. decreased its holdings in shares of The Gorman-Rupp Company (NYSE:GRC – Get Rating) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,759 shares of the industrial products company’s stock after selling 1,445 shares during the quarter. Shell Asset Management Co.’s holdings in Gorman-Rupp were worth $350,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in Gorman-Rupp by 22.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 418,149 shares of the industrial products company’s stock valued at $18,629,000 after purchasing an additional 76,787 shares during the period. Assenagon Asset Management S.A. acquired a new position in Gorman-Rupp during the first quarter valued at approximately $2,271,000. Lbmc Investment Advisors LLC grew its holdings in Gorman-Rupp by 8,757.4% during the fourth quarter. Lbmc Investment Advisors LLC now owns 61,116 shares of the industrial products company’s stock valued at $2,723,000 after purchasing an additional 60,426 shares during the period. First Trust Advisors LP grew its holdings in Gorman-Rupp by 11.6% during the fourth quarter. First Trust Advisors LP now owns 579,578 shares of the industrial products company’s stock valued at $25,820,000 after purchasing an additional 60,124 shares during the period. Finally, EAM Global Investors LLC acquired a new position in Gorman-Rupp during the fourth quarter valued at approximately $2,197,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

Shares of GRC opened at $28.23 on Friday. The Gorman-Rupp Company has a twelve month low of $26.83 and a twelve month high of $47.12. The firm’s 50 day moving average price is $28.64 and its two-hundred day moving average price is $33.12. The firm has a market cap of $736.21 million, a P/E ratio of 33.61 and a beta of 0.64.

The business also recently declared 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. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Friday, August 12th. Gorman-Rupp’s payout ratio is currently 80.95%.

GRC has been the subject of a number of analyst reports. StockNews.com cut shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Tuesday. TheStreet lowered shares of Gorman-Rupp from a “b-” rating to a “c+” rating in a research note on Wednesday, June 8th.

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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