The Gorman-Rupp Company (NYSE:GRC) Shares Sold by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. lowered its stake in The Gorman-Rupp Company (NYSE:GRC) by 1.5% during the third quarter, HoldingsChannel reports. The firm owned 115,411 shares of the industrial products company’s stock after selling 1,790 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Gorman-Rupp were worth $4,495,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. grew its position in Gorman-Rupp by 2.3% in the 1st quarter. Russell Investments Group Ltd. now owns 72,344 shares of the industrial products company’s stock valued at $2,861,000 after buying an additional 1,639 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Gorman-Rupp by 147.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,360 shares of the industrial products company’s stock worth $726,000 after acquiring an additional 10,946 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Gorman-Rupp by 413.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 7,157 shares of the industrial products company’s stock valued at $283,000 after acquiring an additional 5,762 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Gorman-Rupp in the first quarter valued at about $131,000. Finally, Quadrature Capital Ltd increased its stake in shares of Gorman-Rupp by 55.3% during the first quarter. Quadrature Capital Ltd now owns 9,737 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 3,468 shares during the period. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Up 1.4 %

GRC opened at $41.03 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The Gorman-Rupp Company has a 12 month low of $30.47 and a 12 month high of $42.89. The stock has a market capitalization of $1.08 billion, a P/E ratio of 28.30, a P/E/G ratio of 1.75 and a beta of 0.92. The business has a 50 day simple moving average of $39.01 and a 200-day simple moving average of $37.61.

Gorman-Rupp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.185 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.80%. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. Gorman-Rupp’s dividend payout ratio (DPR) is 51.03%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 13th.

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.